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Domestic equities soared on Monday, following a sharp rally in US markets on Friday as recession fears eased. BSE benchmark Sensex gained 709.96 points, or 1.16 per cent to open at 61,764.25, while broader NSE Nifty50 climbed 195.40 points, or 1.08 per cent at 18,264.40.
IndusInd Bank was the biggest gainer today, as the private lender’s stock gained 5.08 per cent on BSE and closed at Rs 1,128.60. HDFC twins — Housing Development Finance Corporation (HDFC) and HDFC Bank — corrected its loses after a sharp decline in their stocks on Friday. HDFC Bank gained 1.33 per cent today, while HDFC gained 1.19 per cent.
Tata Motors, Bajaj Finserv, Bajaj Finance, ONGC, NTPC, HCLTech, M&M, and Axis Bank were also among the top gainers in the opening trade today.
Paytm-owner One97Communications gained 4.94 per cent today after the fintech firm’s consolidated net loss narrowed to Rs 168.4 crore in the March quarter, as compared to a loss of Rs 761.4 crore in Q4FY22.
On the other hand, Adani Total Gas fell 4.88 per cent, and Adani Transmission hit the lower price band as it fell 5 per cent after reports said MSCI will mark down the free float of these two Adani group companies. Adani Enterprises Ltd (AEL) closed 1.47 per cent down on the NSE today.
Coal India, Sun Pharma, Dr Reddy’s, Adani Enterprises, Britannia, and L&T were the top losers today.
Broader markets also extended gaining rally as all indices ended in the green. Nifty Midcap Select rose 1.53 per cent, followed by Nifty Midcap 50 at 1.24 per cent, while Nifty 100 and Nifty 200 both gained 1 per cent.
Sectorally, the Nifty auto climbed 1.79 per cent, the private bank index gained 1.70 per cent, the realty index jumped 1.64 per cent, and financial services indecies rose 1.50 per cent. Meanwhile, PSU Banks fell 0.93 per cent today.
