Market sentiment improved with the announcement of the deal between America and Iran. Tremendous gains were seen in the market for the second consecutive session. On Monday, Nifty closed 231 points higher at 23,853; It also crossed the 24,000 mark during intraday trading. From a psychological point of view, the bulls (bullish ones) have started showing their strength.
In the last two sessions, a significant rise was seen in the Indian market, in which Nifty rose by 692 points. Sector wise, Auto index rose by about 2.6%, IT index by 1%, Financial Services by 1.4% and Metals by 1.8%. Trent, HDFC Life, Shriram Finance and Eicher Motors were the top gainers in the Nifty, rising between 4.3% and 5.4%. On the contrary, NTPC, Bajaj Auto, ONGC and ICICI Bank were the biggest fallers, falling up to 1.6%.
How was the market’s start on Monday?
Indian stock market started with tremendous gains on Monday. BSE Sensex opened at 76,725.27, which was 1,197 points higher than the previous closing level of 75,527.95. Similarly, Nifty 50 opened at 23,984.85, above the previous closing level of 23,622.90. Talking about sector index, Nifty Bank 57,679.65 (above 56,814.80), Nifty Auto 26,692.00 (above 26,293.85), Nifty FMCG 49,422.20 (above 48,827.60), Nifty IT 28,178.85 (above 27,795.75) and Nifty Metal opened at 13,004.90 (up from 12,854.50). Shares like IndiGo, Bajaj Finance, UltraTech Cement, Eicher Motors, L&T and Maruti Suzuki saw good gains in early trade, showing a bullish mood in the market.
GIFT Nifty signals strong start
GIFT Nifty is considered an important indicator before the opening of the Indian market. It was trading around 23,982 levels – about 296 points above Nifty futures closing levels – suggesting a gap-up opening in the market.
A tremendous rise was seen in the market on Friday also
Investors welcomed hopes of a US-Iran deal on Friday.
Sensex closed at 75,527, up 1,695 points.
Nifty rose 461 points to close at 23,622.
The fall in oil prices played an important role in strengthening the market sentiment.
