On Monday, the Sensex and Nifty, the benchmark indices in India, closed higher for the second consecutive session. This upward movement was driven by the purchasing of stocks of major companies like Reliance Industries, ICICI Bank, and M&M, along with a positive trend in global markets.
The 30-share BSE Sensex increased by 240.36 points or 0.38%, settling at 62,787.47. Throughout the day, it surged by 396.09 points or 0.63% to reach 62,943.20.
The NSE Nifty rose by 59.75 points or 0.32%, ending at 18,593.85.
Among the Sensex stocks, Mahindra & Mahindra saw a rise of 3.81%, followed by Axis Bank with a 2.68% increase. Other gainers included Tata Motors, Larsen & Toubro, Tata Steel, ICICI Bank, Reliance Industries, Maruti, IndusInd Bank, and Sun Pharma. On the other hand, Asian Paints, Tech Mahindra, Nestle, Hindustan Unilever, Kotak Mahindra Bank, and ITC experienced a decline.
Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, closed in positive territory. European equity markets were trading with mixed results, while the US markets ended significantly higher on Friday.
US President Joe Biden signed legislation on Saturday to raise the nation’s debt ceiling, avoiding a potentially disastrous default on the government’s debt.
According to a monthly survey, India’s services sector growth slightly slowed down in May but still registered the second-strongest growth rate in nearly 13 years, driven by favorable demand conditions and new client wins.
Brent crude, the global oil benchmark, increased by 1.92% to reach USD 77.59 per barrel.
Foreign Institutional Investors (FIIs) sold equities worth ₹658.88 crore on Friday, as per exchange data.
On Friday, the BSE benchmark rose by 118.57 points or 0.19% to settle at 62,547.11, while the Nifty advanced by 46.35 points or 0.25% to finish at 18,534.10.
