Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, soared in trade on Monday to resume their bull run. While BSE Sensex moved near 79,500, Nifty50 was above 24,100. BSE Sensex ended the day at 79,476.19, up 443 points or 0.56%. Nifty50 closed the day at 24,123.35, up 113 points or 0.47%.
The top Nifty50 gainers were Tech Mahindra, Wipro, Grasim Industries, Bajaj Finance, UltraTech Cement, Infosys and TCS.The top Nifty50 losers were NTPC, Eicher Motors, SBI, Dr. Reddys, Apollo Hospital, and L&T.
“We expect this positive momentum to continue at a steady pace with stock-specific action. However, the release of economic data points this week would keep a little volatility in the market. Sector like Auto is expected to be in the limelight as OEMs would release their monthly auto Sales number,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
According to Nagaraj Shetti of HDFC Securities, Nifty is currently facing resistance at 24000-24100 levels, and any dip from here is likely to be a buying opportunity, with immediate support at 23800 levels.
U.S. stocks closed lower on Friday after an early rally fizzled out, as investors analyzed in-line inflation data and weighed political uncertainty following the U.S. presidential debate. Nike experienced its steepest one-day fall in over two decades after issuing a gloomy forecast.
Most Asian stocks rose on Monday following data indicating cooling U.S. inflation, which bolstered expectations of Federal Reserve interest rate cuts. Currencies, however, remained mostly unchanged, with the South Korean won seeing the biggest decline. Stocks in Malaysia and India increased by 0.4% and 0.5%, respectively, while Philippine equities dropped by 0.2%. Indonesian stocks climbed 0.8% for their fourth consecutive session of gains, and the rupiah appreciated by 0.3%.
India Cements and Indus Tower are in the ban period under the F&O segment, as they have crossed 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers at Rs 23 crore on Friday, while DIIs bought shares worth Rs 6,658 crore. The rupee rose 11 paise to settle at 83.34 against the US dollar on Friday amid recent inflow of foreign funds. The net long of FIIs increased from Rs 3.19 lakh crore on Thursday to Rs 3.46 lakh crore on Friday.