Sensex soars 594.91 points, Nifty rallies 181.15 points in bullish market surge

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The Sensex, the main benchmark index of the Bombay Stock Exchange (BSE), rose 594.91 points to close at 64,958.69. At the same time, the Nifty, which is the NSE’s benchmark index, performed well, gaining 181.15 points and reaching a final figure of 19,411.75.

In Monday’s trading session, there were strong gains in the benchmark stock market indices driven by favorable global influences and positive Q2 financial results.

The S&P BSE Sensex ended the day with a significant gain of 594.91 points, reaching a final figure of 64,958.69. Similarly, the NSE Nifty 50 settled 181.15 points higher at 19,411.75. This significant rise in the broader market indices reflects an optimistic atmosphere on Dalal Street.

Several sectoral indices closed the day on a positive note, with significant gains seen in Nifty Pharma, Nifty Metal, and Nifty Realty stocks.

Top performers on the Nifty 50 included Divi’s Laboratories, Eicher Motors, Hero MotoCorp, Axis Bank, and L&T. Conversely, SBI, HUL, Cipla, Tata Motors, and Titan were among the top spenders.

Despite reporting a bigger-than-expected drop in net profit, their shares in Divi’s Laboratories rose more than 5%. The company revealed a 29.4% decline in consolidated net profit, which stood at Rs 348 crore.

Aditya Gaggar, Director of Progressive Equities explained, “Positive global factors supported the Indian common stocks to start the day on a strong note but due to lack of follow through, the Index oscillated in a thin range.”

He further observed, “By breaking the stiff barrier of 19,200-19,250, Nifty50 has formed a strong bullish candle on the daily chart and is heading towards its next resistance zone of 19,450-19,500 and the zone will be considered 19,270 -19,310 as a strong support area.”

Also read | Stock markets jumped in early trade; Sensex gains 471 points, Nifty over 19,350 amid positive global cues

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