Sensex Climbs 423 Points as Oil Prices Ease
Indian benchmark indices opened higher on Monday, with the Sensex gaining over 400 points despite mixed sectoral performance.
Key points
- Sensex gained 423.53 points to trade at 74,718.49, marking a 0.57 percent increase.
- Nifty Realty was the top sectoral gainer, rising over one percent in early trade.
- Easing oil prices supported market sentiment despite mixed performance in IT and media sectors.
The Sensex opened at 74,535.18 and traded at 74,718.49. This represents a gain of 423.53 points or 0.57 percent. The Nifty index opened at 23,330.20 and held above 23,360. It rose 29.75 points or 0.13 percent in early trade.
Easing oil prices supported market sentiment on Monday morning. Indian benchmark indices opened higher despite muted cues from GIFT Nifty. The broader market remained mixed with sectoral leaders diverging.
Realty leads sectoral gains
Nifty Realty emerged as the top sectoral gainer. The index surged over one percent in early sessions. Conversely, IT, media, and metal sectors traded in the red. PSU Bank and financial services stocks also declined.
Major stocks drive market movement
UltraTech, IndiGo, and Asian Paints led the BSE gainers. SunPharma, HCL Tech, and Hindustan Unilever also advanced. Adani Ports, Bharti Airtel, and Power Grid lagged. Infosys was among the top losers on the exchange.
IndiGo and Asian Paints topped the NSE gainers list. SunPharma, Reliance, and Kotak Bank also recorded gains. Adani Ports and Bharti Airtel were top losers. Wipro, Bajaj Finance, and Tech Mahindra also fell.
Oil prices support trading sentiment
Lower oil prices provided a supportive backdrop for equities. This factor helped offset weak global cues. Market breadth remained mixed across broad indices. Most broad market indices traded in the red.
Data from Rediff highlights the divergence in sectoral performance. The rally was led by select large-cap stocks. Broad market participation remained limited in the morning session. Investors monitored global cues with caution.
