MUMBAI: After losing about 4,100 points final week, the sensex reversed its losing run with a 499-point rally on Monday. It closed at 78,540 points, with 21 of 30 index constituents gaining. On the NSE, the Nifty gained 166 points to shut at 23,753.
Monday’s restoration was pushed by good points in financials and IT shares, in accordance with Vikram Kasat, head of advisory at Prabhudas Lilladher. “The positive sentiment was influenced by softer US inflation data, which buoyed regional markets. Investors are now focusing on RBI’s forthcoming monetary policy and the Union Budget 2025, anticipating policy measures that could further support economic growth and market stability,” he stated. However, buying and selling volumes are anticipated to be skinny within the subsequent few days, primarily on account of this being a holiday-shortened week, he added.
The day’s good points got here on the again of robust shopping for by home funds that recorded a internet influx of Rs 2,228 crore. Foreign funds remained internet sellers at Rs 169 crore, BSE knowledge confirmed.
Among the sensex constituents, HDFC Bank, Reliance Industries, ITC and ICICI Bank contributed probably the most to the day’s achieve. Zomato – which was included within the sensex on Monday – closed sharply decrease, down 2.8%.
The day’s rally added about Rs 76,000 crore to traders’ wealth.
