Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
On the first Monday of the year 2023, domestic stock markets rose as a result of strong Asian stock indications. After being turbulent on both the BSE and NSE pre-opening sessions, indices spiked on Monday.
At 9.27 am on Monday, the BSE Sensex rose 77 points to 60,917.87 while the Nifty 50 rose 25 points to 18,130.35. Tata Communications, Lloyd, Usha Mart, Timken, and Kalpataru Power were some of the most active stocks on the BSE that increased during morning trade, while MCX, Jindal Poly, Shipping Corporation of India, and Triveni Turbine were some of the exchange’s laggards.
Tata Steel, Hindalco, Tata Motors, JSW Steel, and Brittania were the most active stocks on the NSE among all the stocks that rose on Monday morning, while Asian Paints, Bajaj Auto, Sun Pharma, and Bajaj Finance were the least active.
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In the morning session of Monday, the S&P ASX was up 24 points, the Hang Seng in Hong Kong was up 40 points, the Nikkei in Japan was trading in the green, and the Shanghai Composite Index was up 15 points.
In the European stock markets, the FTSE was down 61 points at the close, the CAC was up, the Deutsche fell 148 points, and Refinitiv Europe finished in the red. Major markets in Europe and the US will also be closed on Monday in observance of the new year’s holiday.
As Asian markets started on Monday morning, the Dow Jones closed 73 points lower, the Nasdaq fell 11 points, the S&P fell 9 points, and Refinitiv United States closed in the red.
S&P BSE Sensex on Friday declined 293.14 points or 0.48 per cent to 60,840.74. The Nifty 50 index lost 85.70 points or 0.47 per cent to 18,105.30. In the previous year, both indices increased by around 4.4%. Private banks, fast-moving consumer goods, and financial shares all fell, while PSU banks, real estate, and metal shares defied the trend.
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