Indian Stock markets performed broadly well on Monday as the Sensex gained 465.14 points, while the Nifty 50 closed market above the 17500 mark.
All indices except the Public Sector Undertaking Banks index advanced for the green on Monday. Increased stock values posted by IT and Auto stocks, helped the markets close the trading day near four-month high levels.
S&P BSE SENSEX of Bombay Stock Exchange, which opened the market at 58,417.71 gained 465.14 points (0.80%) to close the day at 58,853.07. The index, which closed at 58,387.93 on Friday last week, went as high as 58,934.90 on the first trading day of the week.
Top gainers on Monday were Mahindra and Mahindra (+3.13 %) Bajaj Finserve (+2.95 %) HDFC Bank (+2.41%)
Axis Bank (+2.40 %) Larsen and Toubro (+2.34 %)
and NTPC (+2.12 %).
The share value of automobile company, Mahindra and Mahindra Limited, gained 38.65 rupees on Monday to close trading at 1,274.85 rupees per share. The carmaker had earlier teased looks of new 5 SUV Electric Vehicles which would reportedly be launched on August 15th 2022. The launch of Jeeto Plus CNG CharSau also helped the company to gain the trust of investors and traders in the market.
State Bank of India (-1.95%) Ultra Tech Cement (-1.63%)
Nestle India (-1.15 %) Wipro (-1.15 %) Powergrid(-0.81%)
and Sun Pharma (-0.51 %) were top losers on Sensex on Monday.
Out of 30 stocks traded on S&P BSE SENSEX, 2 stocks made advanced on Monday while the rest of the stocks tumbled down.
In sectoral indices, index for capital goods, S&P BSE CAPITAL GOODS turned out to be top gaining sector as the index rose by 592.66 points (+2.00%) to conclude trading at 30,291.39 points.
Indices of utility, power and metal industry also gained considerably well on Monday.
Out of 3,670 stocks traded on the Bombay stock exchange, 1,894 of them made gains on Monday, while 1,613 stocks finished trading in the red. The share value of 163 stocks remained unchanged during the day. 141 stocks touched 52-week high, while 42 stocks touched 52-week low values of their respective stocks.
The benchmark index of the national stock exchange, Nifty 50, on Monday gained 127.60 points (+0.73%) to close the market at a last traded price of 17,525.10. The Nifty 50 had closed at 17,397.50 on Friday.
Top gainers on Monday were Mahindra and Mahindra (3.21%) Coal India (3.14%) Bajaj Finserve (2.93%) NTPC (2.76%) Hindalco (2.63 %) and HDFC Bank (2.40 %).
The top losers on the index were Bharat Petroleum Corporation Limited (-3.00 %) State Bank of India (-2.06%) Britannia (-1.49 %) Ultra Tech Cement (-1.44%) and Hero Moto Corp (-1.04 %).
Out of 50 stocks listed in the Nifty 50, 34 stocks advanced, while 16 stocks declined during the trading day.
Foreign portfolio investors and offering institutional investors stood as net buyers at the end of trading on Monday with a net value of 1,449.70 crore Indian rupees.