Stock Market Today: Nifty, Sensex End At Record Closing Levels As Auto, Realty Stocks Lead
The NSE Nifty 50 settled 147.25 points, or 0.65%, higher at 22,660.95, and the S&P BSE Sensex rose 494.28 points, or 0.67%, to end at 74,742.5.
KEY HIGHLIGHTS
FPIs Turn Net Sellers After A Day
Overseas investors turned net sellers on Monday after a day's buying.
Foreign portfolio investors off loaded stocks worth Rs 684.68 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors turned net buyers for the and mopped up equities worth Rs 3,470.54 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 12483 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
The NSE Nifty 50 ended 147.25 points, or 0.65%, higher at 22,660.95, and the S&P BSE Sensex rose 494.28 points, or 0.67%, to close at 74,742.5.
Rupee Weakens Against U.S. Dollar
The local currency weakened by 3 paise to close 83.32 against the U.S. Dollar.
It closed at 83.29 a dollar on Friday.
Source: Bloomberg
Nifty, Sensex End Shy Of Record High
The benchmark indices kicked off the week by climbing to a fresh record closing level on Monday led by gains in automobile stocks. The session also witnessed the market cap of BSE-listed firms crossing the Rs 400 lakh crore mark.
The NSE Nifty 50 settled 147.25 points, or 0.65%, higher at 22,660.95, and the S&P BSE Sensex rose 494.28 points, or 0.67%, to end at 74,742.5.
On an intraday basis, the Nifty hit an all-time high of 22,667.6, and the Sensex touched a new life-high of 74,869.3 earlier in the session. Bank Nifty also recorded the highest closing level of 48,581.7 on Monday.
The buoyancy in sentiment continued, led by sectorial tailwinds and Q4 earnings growth expectations, according to Vinod Nair, Head of Research, Geojit Financial Services.
Most Stocks in the Asia-Pacific region closed higher on Monday following on positive global cues. The S&P ASX 200 ended 0.20% higher at 7,789.08, and the NIKKEI closed 0.91% higher at 39,347.04.
Brent crude was trading 1.04% lower at $90.22 a barrel. Gold was up 0.32% to $2,337.18 per ounce.
"The up-move was largely broad-based, with outperformance by auto, reality, oil & gas, and consumer discretionary, while IT was tepid owing to insipid Q4 growth expectations due to a slowdown in spending," Nair said.
On the global front, after the release of robust US job data, investors are awaiting the release of U.S. CPI data, ECB policy, and U.K. GDP data this week, according to Nair.
Shares of Reliance Industries Ltd., Larsen & Toubro Ltd., Mahindra and Mahindra Ltd., Maruti Suzuki India and NTPC Ltd. positively contributed to the Nifty.
Whereas, HDFC Bank Ltd., Adani Ports Ltd., Tata Consultancy Services Ltd., Nestle India Ltd., and Infosys Ltd. weighed on the index.
Sectorally, Nifty Auto and Nifty Oil and Gas advanced the most, while Nifty PSU Banks and Media declined.
The benchmarks outperformed the broader markets as the BSE MidCap rose 0.26%, while the BSE SmallCap was 0.06% lower.
Three of the 20 sectors compiled by BSE declined, while seventeen advanced.
Market breadth was skewed in favour of sellers. On BSE 2,023 stocks declined, 1,903 stocks advanced, and 127 remained unchanged.
NIIT Appoints Pankaj Prabhakar Jathar As CEO
Prabhakar Jathar appointed as CEO effective July 1
Source: Exchange Filing
Mazagon Dock FY24 Turnover Rs 9,400 Crore
Company's turnover in FY23 was at Rs 7,827 crore
Source: Exchange Filing
