On Monday, stock markets experienced a substantial increase, marking the sixth consecutive day of growth. The benchmark BSE Sensex climbed by 388 points, closing at 84,950.95. Meanwhile, the NSE Nifty surged past the 26,000 threshold, finishing at 26,013.45.
Key Market Drivers
This rally was fueled by robust buying activity from domestic institutional investors. Analysts noted that the market’s positive momentum is in anticipation of further upward movement, driven by strong corporate earnings.
Vinod Nair, Head of Research at Geojit Investments Ltd, emphasized the importance of potential trade deals as crucial market catalysts. He stated, “Currently, the risk-reward ratio is largely favorable, supported by stronger-than-expected Q2 earnings from mid-cap companies, which reinforces confidence in a growth revival.”
Top Performers
- Eternal
- Maruti Suzuki India
- Kotak Mahindra Bank
- Mahindra & Mahindra
- Tech Mahindra
- Titan
- HDFC Bank
- PowerGrid
- Bajaj Finserv
- HCL Technologies
- Bajaj Finance
- Larsen & Toubro
Underperformers
- Tata Motors Passenger Vehicles
- Asian Paints
- UltraTech Cement
- Bharat Electronics Ltd
- Tata Steel
- Adani Ports
- Hindustan Unilever
- ITC
- Tata Consultancy Services
- Reliance Industries
Global Market Trends
In the broader Asian markets, indicators showed mixed results. Hong Kong’s Hang Seng, Shanghai’s SSE Composite index, and Japan’s Nikkei 225 ended in negative territory. Conversely, South Korea’s Kospi recovered to close positive.
European markets also displayed weakness, trading in the red zone. The US market ended lower on the previous Friday, influencing global market sentiment.
Oil Prices and Investor Activity
Brent Crude, the global oil benchmark, saw a decrease of 0.70%, settling at USD 63.94 per barrel. Additionally, foreign institutional investors were net sellers for the fifth consecutive day, offloading equities worth Rs 4,968.22 crore on Friday.
In contrast, domestic institutional investors remained active, purchasing stocks worth Rs 8,461.47 crore, showcasing confidence in the market’s growth potential.
On the previous trading day, the BSE Sensex increased by 84.11 points to close at 84,562.78, while the NSE Nifty rose by 30.90 points, finishing at 25,910.05.
