Benchmark indices prolonged features within the afternoon session on Monday, led by banking and monetary stocks.
Supported by heavyweights corresponding to ICICI Bank and HDFC, the markets gained additional regardless of blended world cues. While the US markets closed on a robust notice on Friday, Asian shares traded blended. A decline in lively caseload, in accordance with official knowledge, has additionally positively impacted market sentiment.
At 1 pm, the BSE Sensex was ruling at 49,352.17, up 619.62 points or 1.27 per cent. It hit an intra-day excessive of 49,386.39 and a low of 48,923.13. Nifty 50 was at 14,846.90, up 169.10 points or 1.15 per cent. It hit an intra-day excessive of 14,860.05 and a low of 14,725.35.
State Bank of India, IndusInd Bank, UPL, ICICI Bank and Bajaj Finserv had been the highest gainers on the Nifty 50, whereas Cipla, L&T, Bharti Airtel, Sun Pharma and SBI Life had been among the many prime laggards.
According to Dr V. Okay. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the US inflation numbers and internally India’s Covid knowledge are more likely to impression the markets.
Meanwhile, India’s Wholesale Price Inflation (WPI) climbed to 10.49 per cent YoY in April versus 7.39 per cent in March owing to a steep rise in costs of crude petroleum and mineral oils, viz, petrol, diesel and many others.
Sectoral and broader indices
All sectoral indices besides Nifty Pharma and Nifty Media had been within the inexperienced, as financials and financial institution stocks rallied. Auto stocks additionally gained.
Nifty Bank was up 3.03 per cent, whereas Nifty Financial Services was up 2.42 per cent. Nifty Private Bank and Nifty Financial Bank had been up 2.82 per cent and three.12 per cent, respectively. Nifty Auto was up 2.01 per cent. Meanwhile Nifty Pharma was down 0.52 per cent. All the broader indices had been additionally within the inexperienced.
Nifty Midcap 50 was up 1.04 per cent, whereas the Nifty Smallcap 50 was up 0.80 per cent. The S&P BSE Midcap was up 1.16 per cent, whereas the S&P BSE Smallcap was up 1.27 per cent.
Notably, the volatility index softened 4 per cent to 19.46.