The top gainers in the Nifty 50 were Adani Enterprises, Wipro, Adani Ports, Mahindra & Mahindra, and Titan. The top losers were Dr Reddy's, Maruti, TCS, HDFC Life, and Divis Labs.
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Domestic markets began the week on a positive note, with both the Nifty 50 and the BSE Sensex rising. The Nifty 50 surged by 60 points to 23,529, while the BSE Sensex climbed 101 points to 77,195 shortly after trading began. Except for Nifty Pharma, Nifty Healthcare, and Nifty MidSmall Healthcare, all sectoral indices began the week strongly, reported ANI.
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According to the report, the markets reopened today after being closed on Monday for Eid al-Adha.
Ajay Bagga, a banking and market specialist, highlighted significant market drivers, such as the incoming government's 100-day agenda and future Union Budget initiatives. He also emphasised the importance of selecting the Speaker of the Lok Sabha and announcing the BJP President. "PSU companies, banks, capital goods, infrastructure, railways, and defence stocks are the preferred bets in the Indian markets," he stated per the ANI report.
Reportedly, the top gainers in the Nifty 50 were Adani Enterprises, Wipro, Adani Ports, Mahindra & Mahindra, and Titan. The top losers were Dr Reddy's, Maruti, TCS, HDFC Life, and Divis Labs.
Hindustan Aeronautics' shares rose more than 4 per cent after winning a Defence Ministry procurement worth more than Rs 45,000 crore for 156 Light Combat Helicopters.
All NSE indices, including the Nifty 100, Nifty Next 50, Nifty Midcap, and Nifty Smallcap, rose in early trading.
Asian markets rose, boosted by gains in US technology behemoths, however, Chinese equities were pressured by a worsening housing downturn in May. The Australian central bank is set to keep its benchmark interest rate at 4.35 per cent, while US markets await retail sales data and Federal Reserve speeches ahead of Wednesday's holiday, the ANI report stated.
European stock markets fluctuated due to fears over the forthcoming French election, with France's index rising nearly 1 per cent and Germany's index rising 0.4 per cent.
In the commodity market, gold fell 0.5 per cent to USD 2320/ounce as traders awaited signals from US authorities. Brent crude rose 2 per cent to a one-month high above USD 84 a barrel on expectations of rising global demand and OPEC+ continuing production cuts, the ANI report further stated.
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