Dalal Street witnessed a rally on Monday, as markets started the week on a positive note as Sensex and Nifty gained over half a percent, extending their rally from the opening bell.
The S&P BSE Sensex was up 529.17 points to 80,338.82, while the NSE Nifty50 gained 185.20 points to 24,612.05 as of 2:15 pm.
WHY IS STOCK MARKET UP?
There was a broad-based rally in the market, but the major stimulant to today’s market was advances in auto and information technology (IT) stocks despite no positive reaction from the US over tariff worries.
The BSE Sensex displayed positive momentum during the afternoon trading session today. Among the top gainers, Mahindra & Mahindra led with a strong rise of 2.98%, followed by Tata Motors which gained 2.86%. Trent climbed 2.65%, while Infosys advanced 2.08% and Asian Paints rose 2.05%.
Sun Pharma faced the biggest decline, dropping 2.05%. ITC fell 0.92%, while Titan went down 0.34%. HDFC Bank lost 0.17% and Hindustan Unilever declined 0.09%.
On Nifty also, auto and IT sectoral indices saw most gains.
All major sectors showed gains with Nifty Auto leading at 2.54%, followed by Nifty Consumer Durables at 1.91% and Nifty IT at 1.52%.
Other strong performers included Nifty Metal at 1.34%, Nifty Oil & Gas at 1.21%, Nifty PSU Bank at 0.98%, Nifty Realty at 0.78%, Nifty Financial Services at 0.76%, Nifty Private Bank at 0.58%, Nifty Pharma at 0.20%, Nifty Healthcare at 0.19%, and Nifty FMCG at 0.07%.
Only Nifty Media faced selling pressure, declining 0.07%
The rise in stock market came despite the rupee falling to an all-time low of Rs 88.33 against US Dollar and foreign investors consistently pulling money out from Dalal Street.
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