In a significant surge, the BSE Sensex and NSE Nifty demonstrated robust performance on Monday, witnessing the Sensex crossing the historic 70,000 mark and the Nifty50 reaching above 21,000 in early trade. At 9:55 am, the BSE Sensex showed an uptick of 117 points, standing at 69,942, while the NSE Nifty50 was trading at 20,994, up 25 points.
In an impressive early trading session, the equity market witnessed a remarkable rally as the benchmark Sensex crossed the historic 70,000 level for the first time. The benchmark Sensex and Nifty rebounded strongly, culminating in the attainment of new lifetime highs.
The lead gainers on the 30-share Sensex platform included IndusInd Bank, UltraCemco, Kotak Bank, Tata Motors, HCLTech, and Tata Steel. Conversely, Asian Paints, Axis Bank, Sun Pharma, Wipro, HUL, and Bajaj Finserv experienced losses. Notably, Dr Reddy's faced a setback with a 6% dip as it received Form 483 with 3 observations from the US FDA for its R&D unit in Hyderabad.
In the broader markets, the BSE MidCap index recorded a 0.3% increase, and the SmallCap index surged by 0.6%. However, the Nifty Pharma sector witnessed a 1% decline. On a positive note, the FMCG, Realty, and IT indices maintained their gains.
The previous trading session on Friday concluded with the BSE Sensex settling at 69,825.60, marking a notable climb of over 300 points. The NSE Nifty50 achieved a record high by crossing the 21,000 mark, reaching 21,006.10, and closed slightly lower at 20,972.15. The current uptrend in early trade indicates bullish market sentiment and a strong start for the week.
Investors are closely monitoring sectoral movements, with specific stocks like Dr Reddy's drawing attention due to regulatory developments. The overall positive momentum, especially in the mid- and small-cap segments, reflects the broader confidence in the market. As the day unfolds, market participants anticipate further insights into the sustainability of these record levels.
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