Sensex Amassed Over 500 Points To Hit New All-Time Highs; Smart Trading Above 18,500.
Stock indexes continued to hit new highs on Monday, boosted by gains in banking and metals stocks. The base value of the BSE Sensex rose in late trading by 524 points, or 0.86%, to 61,830; while the broader NSE Nifty rose 164 points, or 0.89%, to 18,502.
Stock indexes continued to hit new highs on Monday, boosted by gains in banking and metals stocks. The base value of the BSE Sensex rose in late trading by 524 points, or 0.86%, to 61,830; while the broader NSE Nifty rose 164 points, or 0.89%, to 18,502; The 30-stock BSE index hit a record high for the day at 61,962.
The most profitable in the BSE package included Infosys, Tata Steel, Tech Mahindra, ICICI Bank, Maruti Suzuki India, ITC and Bajaj Finserv with an increase of 3.38%.
On the NSE platform, the Nifty Metal and Nifty PSU Bank sub-indices were up 3.84%.
Gaurav Garg, Head of Research, Capitalvia Global Research Ltd, “India stocks have hit new highs despite weak global evidence. Domestic benchmarks have been driven by metals stocks. Medium and small stock indexes on the BSE are also trading in the green.”
He added, “Domestic sentiment remains positive after the country’s foreign exchange rose by $2.039 billion to $639.516 billion.” Our research
Mr Garg further suggested: “61,350-61,600 (Sensex) will be important market support. If the market stays above 61,600. We can expect the market to trade in the 61,600-62,000 market range. ”
The Nifty Bank Index was up 0.97% in late trading.
PNB Housing Finance Ltd shares fell 5% to their lowest since early June after the mortgage lender scrapped a fundraising deal with a group of investors led by privately held Carlyle Group.
Meanwhile, foreign institutional investors (FIIs) became net buyers in the capital market, as they bought shares worth 1,681.60 kroner according to stock exchange data.
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