Domestic stock markets witnessed a rise on Monday after the interim trade deal between America and India was finalized. Large-scale buying was seen across sectors, and benchmark indices closed near the day’s highs. Sensex closed 485 points higher at 84,065. Nifty closed 173 points higher at 25,867. Bank Nifty closed at 60,669, up 548 points. Nifty Mid Select closed 223 points higher at 13,868, a gain of 1.64%. Small-cap stocks were even more bullish, with Nifty Smallcap jumping 447 points to close at 17,385, a gain of about 2.64%.
Rise in shares related to India-US trade deal
Strong buying was seen today in stocks expected to benefit from the India-US trade deal. Avanti Feeds gained about 7.3%, Apex Frozen Foods gained about 9.8%, Gokaldas Exports jumped 7.6%, and LT Foods was stronger about 5.2%.
Top gainers and losers of Nifty 50
On the Nifty 50, Shriram Finance rose about 5.4%, Grasim gained 3.4%, Dr Reddy’s was stronger about 3%, and UltraTech Cement closed up about 2.6%. Profit-booking was also seen in some heavyweight stocks. Max Healthcare declined nearly 2.7%, Power Grid dropped 1.2%, ONGC slipped nearly 1%, and ITC closed down nearly 0.9%.
Today’s top gainers and losers
In the broader market, EMI gained nearly 15.2%, Jana SFB gained 13.4%, PCBL Chemical jumped nearly 11.2%, and Jubilant Ingrevia gained nearly 9%. Meanwhile, Bharat Power fell nearly 6.5%, Concord Biotech dropped 3.7%, REC closed down nearly 3.2%, and Seagull India slid nearly 3%. Major benchmark indices were also trading higher during the day’s trading session. There was some weakness in the IT index, but buying trend was seen in all other sectoral indices. Sensex was trading around 84,021 with a gain of 441 points. Nifty was at 25,851 with a gain of 156 points. Bank Nifty was at 60,582 with a gain of 457 points. The biggest gains were seen in PSU Bank, Consumer Durables and Metals indices.
Stock in Action:
Kalyan Jewellers:
– Strong results were released over the weekend
– Share price surged due to strong short covering and new buying
– Buying advice was given in both ‘Result Review’ and ‘Opening Hero’ in the morning
SBI:
– Today’s best performing stocks due to strong results
– Buying advice was given in ‘Results Review’ in the morning
– Advised to avoid hasty profit booking and short selling
Rec:
– Huge fluctuations in share prices were seen due to merger news.
– It was clearly stated in ‘Stock Insights’ in the morning that it would be difficult for REC to cross the range of 387-390.
– Profit booking advised at higher levels
Siemens:
– Stock is weak even in strong market
– In the morning ‘Stock of the Day’ was advised to buy
– Advice was given to sell the day after the results
Initially, Sensex was trading with a gain of 400 points and Nifty with a gain of 140 points. The PSU bank index was up nearly 3%. There was a rise in metal and IT shares. Barring the FMCG index, all other sectoral indices were trading in the green. At 9:32 am, the Sensex was trading around 83,500, up 417 points. Nifty was trading around 25,815 with a gain of 120 points. Bank Nifty was trading around 60,675 with a gain of 555 points. India VIX was up 2%. Midcap and smallcap stocks also saw a rise of 1 per cent each.
Compared to the previous close, the Sensex opened at 84,177 with a gain of 597 points. Nifty opened at 25,888 with a gain of 195 points. Bank Nifty opened 685 points higher at 60,805, and the rupee opened 8 paise stronger at 90.58/$ against the dollar. On Nifty 50, SBI, Titan, Adani Enterprises, Tata Steel, Eternal, Dr Reddy’s and Hindalco were among the top gainers. Eicher Motors, Max Healthcare, Bajaj Finance, HUL, Nestle, Infosys and ONGC were among the top losers.
