Share Market Closing Today: After a huge fall in the last five trading sessions, the stock markets closed with gains in volatile trading on Monday. BSE Sensex rose by 302 points, while NSE Nifty rose by 107 points.
Traders said that the market got support due to new hopes arising from the India-US trade agreement and buying at lower levels in energy, banking and metal stocks. However, geopolitical tensions and continued selling by foreign investors kept the rally limited.
BSE Sensex and NSE Nifty 50 closed in the green.
BSE’s 30-share index Sensex closed at 83,878.17 points, rising 301.93 points or 0.36 percent after huge fluctuations. At one point in the morning trade, it had slipped by 715.17 points to 82,861.07 points.
But later it recovered and was successful in taking the lead. At the same time, NSE’s 50-share index Nifty closed at 25,790.25 points with a gain of 106.95 points or 0.42 percent. In early trade it had fallen 209.9 points to 25,473.40 points.
Top Loser and Gainer
Among the companies included in the Sensex group, Tata Steel, Asian Paints, Trent, State Bank of India, Hindustan Unilever, UltraTech Cement, ICICI Bank and Bharti Airtel were the major gainers. On the contrary, shares of Infosys, Bajaj Finance, Bharat Electronics, Larsen & Toubro and HDFC Bank closed with losses. In this way the local stock market was successful in recovering from five days of decline.
In the last five trading sessions, Sensex had fallen by a total of 2,185.77 points or 2.54 percent and Nifty had fallen by 645.25 points or 2.45 percent. Even on Monday, the market was trading with a decline in the morning session. But investor sentiment was supported by the positive signals given by the new US Ambassador to India regarding the India-US trade agreement.
expert opinion
Ajit Mishra, Senior Vice President (Research), Religare Broking Limited, said, there was a mixed impact of global and bilateral developments on the market sentiment. In early trade, caution prevailed due to the ongoing geopolitical tension but the market sentiment improved after news of progress on the India-US trade agreement arrived. In the broader market, the BSE Smallcap index of small companies declined by 0.68 percent. Whereas the midcap index of medium companies declined by 0.41 percent.
US Ambassador Sergio Gore said that no other country is as important to America as India and both sides are actively negotiating to finalize a trade agreement. He also invited India to join the US-led strategic alliance called ‘Pax Silica’.
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