Stock Market Updates: Sensex and Nifty, Both Displays Green
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Summary: The BSE Sensex and Nifty50, open higher on Monday. Thanks to the mixed global influence.
The Nifty50 was up 71.65 points, or 0.31%, at 23,274 at 11 AM, while the BSE Sensex had increased 301.89 points, or 0.39%, to 76,921.22.
With a 7.23% gain, Kotak Mahindra Bank led the gains among the 17 stocks that were up on the 30-stock BSE Sensex. Bharti Airtel, Bajaj Finance, Reliance Industries, and SBI were among the other noteworthy winners.
With a 1.98% drop, IndusInd Bank experienced the biggest decline, followed by Adani Ports & SEZ, Tata Motors, Tata Steel, and ICICI Bank.
With Kotak Mahindra Bank enjoying an 8.22% increase, 18 firms in the Nifty50 index were gaining. Strong advances also came from Wipro, SBI, NTPC, and Reliance Industries.
Shriram Finance came in second, declining 4.10%, then SBI Life, IndusInd Bank, Tata Motors, and HCLTech.
With a gain of 1.52%, the Private Bank index was the sector with the biggest gain, followed by the Media index, which increased by 0.98%.
Both the Consumer Durables index and the Nifty Bank saw increases of 0.66% and 0.57%, respectively. FMCG, IT, PSU Bank, and Realty indices also witnessed gains.
The biggest loser, however, was the Auto index, which was down 0.65%. Metal, Healthcare, Pharma, and Oil were next, down 0.44%, 0.13%, and 0.09%, respectively.
The Nifty Smallcap 100 witnessed a minor decrease of 0.02%, while the Nifty Midcap 100 saw a gain of 0.07% in the overall markets.
Ahead of Donald Trump's inauguration, Asia-Pacific markets saw a rise Monday as investors awaited further clarification on the incoming US administration's objectives.
Japan's Nikkei 225 rose 1.24%, Australia's S&P/ASX 200 increased 0.31%, and the Topix gained 1.33%. The Kospi in South Korea was up 0.04%, but the Kosdaq was down 0.01%.
The People's Bank of China kept its benchmark lending rates constant on Monday, causing mainland China's CSI 300 to slither up 1.15% and Hong Kong's Hang Seng index to rise 1.39%. Both the 1-year and 5-year loan prime rates (LPRs) were maintained at 3.1% and 3.6%, respectively.
In the meantime, US Treasury yields rose as the dollar surged on Friday, and MSCI's global shares index increased as well. Investors were able to ignore any anxiety ahead of the US presidential inauguration thanks to encouraging economic statistics and corporate reports.
The S&P 500 and the Dow saw their biggest weekly gains since the week before the US presidential election, as all three of Wall Street's major indices ended the day higher. The Nasdaq saw its largest weekly gain since the beginning of December.
