MUMBAI: The recent performance of the benchmark Bombay Stock Exchange (BSE) Sensex reflects a significant upward trend, driven predominantly by gains in the information technology (IT) and banking sectors.
On Monday, the Sensex surged by 591.69 points, or 0.73 per cent, concluding the trading session at 81,973.05 points. During the day, it reached an intraday high of 82,072.17 points, marking a total increase of 690.81 points, or 0.84 per cent.
Similarly, the National Stock Exchange (NSE) Nifty saw a commendable rise, gaining 163.70 points (0.66 per cent) to finish at 25,127.95 points. In intraday trading, it peaked at 25,159.75 points, showcasing an increase of 195.5 points (0.78 per cent).
Notable gainers within the Sensex pack included prominent companies such as Tech Mahindra, HDFC Bank, and Infosys, highlighting the robust performance of the tech and finance sectors.
Conversely, several stocks lagged behind, including Maruti Suzuki India and Tata Steel, suggesting variability within different segments of the market.
According to Vinod Nair, Head of Research at Geojit Financial Services, the resilience of the Indian market is noteworthy, as it appears to have absorbed expectations of subdued earnings for the second quarter. Additionally, declining oil prices have likely contributed to the positive sentiment among investors.
In the broader global context, while European markets exhibited mixed results, Asian markets largely closed higher, with Tokyo, Shanghai, and Seoul recording gains.
Meanwhile, the global oil benchmark Brent crude dipped by 2.52 per cent to $77.05 per barrel, which may further buoy market sentiment.
