The markets ended on a positive note on Monday with the benchmark indices–Sensex and Nifty kickstarting the week on a positive note with a gap up opening. The Sensex jumped 848 points at 49,581 mostly led by banking, auto and metal stocks. The Nifty rose 245 points to settle at 14,923.
The market sentiment improved after domestic coronavirus cases fell below the 300,000 mark for the first time since April 21. India reported 281,386 new coronavirus infections over the last 24 hours, the lowest since April 21, helped by extended lockdowns in some states.
The top gainers on the Nifty were: IndusInd Bank, SBI, ICICI Bank, HDFC Bank and UPL. The top losers were: Cipla, Bharti Airtel, Larsen and Toubro, SBI Life Insurance and Nestle India.
The markets started this week with strong momentum amid continued fall in of COVID cases, accompanied by better-than-expected macro-economic data. Mohit Nigam, Head, PMS, Hem Securities, said, “If the markets break the level of 15,000 and sustain above the level, then this bullish rally might be extended in Nifty 50. IndusInd Bank, SBI and ICICI Bank were among the top gainers in Nifty 50 while Cipla, Larsen and Bharti Airtel were among the top losers in Nifty 50 today,” he added.
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