Sensex and Nifty Rise for Second Day Following Global Trends

Strategic Insights -

The Indian stock market indices Sensex and Nifty continued their upward trajectory for the second consecutive day, following a global trend. The Sensex rose by 361.01 points, or 0.60 percent, to reach 60,927.43, while the Nifty increased by 117.70 points, or 0.65 percent, to 18,132.30. The gains were led by banking, IT, and metal companies, with Tata Steel, Tata Motors, and Larsen & Toubro being among the top performers.

Key Takeaways:

  • The Sensex rose by 361.01 points, or 0.60 percent, to 60,927.43, with metal, IT, and banking sectors leading the gains.
  • The Nifty increased by 117.70 points, or 0.65 percent, to 18,132.30, with Tata Steel, Tata Motors, and Larsen & Toubro being among the top performers.
  • BSE smallcap and midcap indices rose 1.46 and 0.78 percent, respectively, indicating a positive sentiment in smaller companies.
  • Metal stocks rose by 4.59 percent, with international oil benchmark Brent crude climbing 0.49 percent to USD 84.33 per barrel.
  • Reports of relaxing COVID limitations in China boosted metal stocks, while oil prices rose due to supply concerns from US winter storms.
  • Global counterparts, such as Seoul, Tokyo, and Shanghai stock markets, rose, indicating a worldwide trend.

Statistics:

  • Sensex rose by 361.01 points to 60,927.43.
  • Nifty increased by 117.70 points to 18,132.30.
  • Metal stocks rose by 4.59 percent.
  • Brent crude price climbed 0.49 percent to $84.33 per barrel.
  • BSE smallcap and midcap indices rose 1.46 and 0.78 percent, respectively.
  • International oil benchmark Brent crude price increased by 0.49 percent.

Sources:

  • Press Trust of India
  • Geojit Financial Services Research Head Vinod Nair
  • Religare Broking Ltd. VP-Technical Research Ajit Mishra