MAREKT CLOSING: The Indian market continued to rise at the beginning of this week, with the Sensex reclaiming its key mark 60,000 level and the Nifty 50 edging ever-closer to 17,800 levels. The return of bulls in domestic equities was prompted by worries about rate rises and uncertainty in the Adani Group.
On Monday, buying stocks across all sectoral indexes was seen, with oil and gas, IT, and auto stocks leading the way. In addition, all other Adani stocks, with the exception of cement companies, continued to rise, which further improved the market's sentiment.
Sensex finished the day up 415.49 points, or 0.69%, at 60,224.46. The Nifty 50 increased by 117.10 points or 0.67% to close at 17,711.45. The Sensex reached an intraday high of 60,498.48 during the trading session, and the Nifty 50 reached a high of 17,799.95.
The top gainer on the BSE was Tata Motors, which increased by about 2.8%. NTPC and Power Grid followed, increasing by 2.5% and 2.3%, respectively. Companies like Bajaj Finserv, Infosys, Asian Paints, and HDFC all saw gains of 1% to 5%, adding to the positive trend. Tata Steel, however, was the worst underperformer with a decline of 1.22%, followed by L&T, IndusInd Bank, and Sun Pharma.
The shares of the Adani Group rose for the fourth day in a row. Stock in the company's flagship Adani Enterprises increased by 5.5%, while Adani Ports gained almost 1%. Adani Wilmar, Adani Power, Adani Total Gas, Adani Green Energy, and Adani Transmission are some additional Adani-branded equities that have reached a new 5% upper circuit. The share price of NDTV increased by over 5% in the media sector. Ambuja Cements, on the other hand, declined by 1.7% while the price of ACC shares fell by 1.5% in the cement sector.
On the BSE, the IT index increased by almost 364 points in terms of sectoral indices, while Oil & Gas increased by nearly 329 points. 285 points were added to the vehicle index. Midcap and smallcap indices in the overall market also increased by around 1%.
The overall market capitalization of all BSE-listed stocks increased to 265.5 lakh crore on Monday as markets continued their surge, increasing the wealth of equity investors by 5.5 lakh crore.
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