The domestic market surged on Monday driven by a potent mix of global tailwinds and domestic momentum. On the global side, softer-than-expected inflation in the US has raised expectations that the Federal Reserve may begin cutting interest rates, making emerging markets like India more attractive for capital flows. At the same time, signs of easing trade tension between the US and China, and optimism over the India-US trade talks, further lifted the market sentiment.
traded 463.66 points or 0.55 per cent higher at 84,675.54 at 1.43 pm after scaling to an intraday high of 84,932.08 (gaining nearly 720 points from previous close of 84,211.88.
After reclaiming the 26,000 mark in early trade, traded with 141.80 points or 0.55 per cent gains at 25,936.95.
Both midcap and smallcap indices traded with marginal gains. On the sectoral front, realty, PSU bank and oil & gas indexes gained 1-2 per cent, while media, pharma and healthcare indexes dipped.
Top gainers & losers
Shares of SBI Life, Grasim Industries, Bharti Airtel, Reliance Industries and Hindalco led the gainers of Nifty 50, while Bharat Electronics, Kotak Mahindra, Bajaj Finance, Adani Ports and M&M dragged the most.
A total of 3,131 stocks were traded on the at the time of writing, of which 1,561 stocks advanced, 1,452 declined, and 118 remained unchanged. Meanwhile, 76 stocks, including Aditya Birla Capital, Bharti Airtel, City Union Bank and Hindalco, hit their 52-week high, while 43 stocks touched their 52-week low. Additionally, 75 stocks were locked in the upper circuit, and an equal number, 75 stocks, were stuck in the lower circuit.
According to NSE data, the most active equities based on volume are Vodafone Idea, Arihant Capital, Yes Bank and The South Indian Bank.
Vodafone Idea shares gained as the Supreme Court allowed the Central government to reconsider the issue of additional adjusted gross revenue (AGR) demands raised by the Department of Telecommunications (DoT) for the period up to FY 2016-17.
Midcap & smallcap movers
Under the midcap segment, Bharti Hexacom, Coforge, Bank of India, Policy Bazaar and Hinsutan Petroleum gained 3-5 per cent, while SBI Cards, Exide Industries, SRF, Blue Star and Supreme Industries depreciated 1-3 per cent.
Small cap stocks FSL, HBL Engineering, Welspun Corp, CreditAccess and Anand Rathi surged 3-8 per cent, while Zen Tech, Ola Electric, Jindal Saw, Aegis Vopak and Aadhar Housing Finance dragged 2-4 per cent.
On the BSE, Hatsun Agro, Firstsource, Waaree Renewable, Inox Green and Ratnamani Metals climbed 6-20 per cent, while HCG, PGIL, Zen Tech lagged.
Shares of Hatsun Agro, Adani Energy, IOC, Indus Towers, Bata India, SRF and more will remain in focus today due to Q2 results.