The markets closed Monday’s session on a higher note for the fourth straight session. The Nifty 50 closed the session 100 points or 0.40% higher at 25,103, the Sensex rose 280 points or 0.34% to settle at 82,468.
The banking stocks surged higher in line with the overall markets, the Nifty Bank pulled up 270 points or 0.48% to end at 56,849.
The BSE Midcap advanced 474 points or 1.03% to 46,570; on the other hand, the BSE Smallcap surged 635 points or 1.19% to 54,074.88.
“Financial stocks extended their rally in Indian markets, driven by the RBI’s supportive, aggressive policy of rate and CRRA cut. These actions have boosted investor confidence and are expected to enhance liquidity in the near to medium term, especially in midcaps. The positive U.S. jobs data and renewed optimism over U.S.-China trade talks lifted global sentiment. Domestically, even large caps expressed renewed momentum led by FIIs’ inflows,” said Vinod Nair, Head of Research at Geojit Investments.
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5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Monday’s session on a positive note. During the session, the Nifty 50 surged as much as 0.62%, while the 30-stock index, Sensex, rose 0.56%.
Top gainers
Jio Financial Services was the top gainer in the Nifty 50 in Monday’s session, closing 3.5% higher. It was followed by Kotak Mahindra Bank, Bajaj Finance, Trent, and Axis Bank.
Top losers
Meanwhile, the shares of Eternal were the biggest losers in today’s trade. It was followed by ICICI Bank, Titan, M&M, Adani Ports, and many others.
Best and worst performing business groups
The Jaypee Group’s market capitalisation has risen the most in Monday’s trade, gaining 8.9%. In the list of Jaypee Group stocks, all the stocks closed the session on a higher note. Jayee Group was followed by Somany Group, whose market cap increased by almost 5.19%, Anil Ambani’s market cap increased by 4.72%, and others. However, the ICICI Group’s market cap declined the most, falling 1.36%.
Sectors that surged most in Monday’s trade
The transport sector stocks dominated today’s strong market. All the stocks in the list of transport stocks closed the session in the green.
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