Amidst constant fluctuations and global tensions, the Indian stock market finally witnessed a tremendous rally. On Monday, both Sensex and Nifty closed with impressive gains. News of a possible peace deal between the US and Iran boosted investor confidence, leading to increased buying in the market. The sharp fall in crude oil prices also provided strong support to the market. Investors made heavy purchases throughout the trading session, leading to strong gains in many major stocks.
Sensex jumps 1,000 points; Nifty crosses 24,000
At the end of trading, BSE Sensex closed at 76,488 with a gain of 1,073 points. At the same time, Nifty reached 24,031 with a gain of 312 points. After several days, Nifty has once again crossed the level of 24,000, which has further increased the enthusiasm of investors.
Top gainers: These stocks saw maximum gains
In Nifty, Eicher Motors, L&T, Bajaj Finance, Adani Enterprises and HDFC Bank were among the best performing stocks. In contrast, Max Healthcare, ONGC, Hindalco, TCS and Bajaj Auto were the weakest performers.
All sectors closed in green mark
The effect of the boom in the market was seen in almost all sectors. Oil and gas, banking, auto, realty, media and energy indices registered a gain of about 1 percent each. Buying was also seen in mid-cap and small-cap stocks.
Relief from falling prices of crude oil
Brent crude prices fell more than 5 percent to below $100 a barrel. It is believed that the hope of an agreement between America and Iran has reduced concerns about global oil supply. This may provide relief to oil importing countries like India.
Rupee strengthened
The Indian rupee also strengthened against the US dollar. On Monday, the rupee gained 47 paise to close at 95.23 against $1. Experts believe that if tensions ease in West Asia and crude oil prices remain low, the market may see further gains in the coming days.
