Nifty and Sensex Surge: Engineering Services Lead Gains in Positive Trading Session
By ScanX News Team
Indian markets ended positively with Nifty 50 up 0.64% at 24,722.75 and Sensex rising 0.52% to 81,018.72. Engineering Services sector led gains at 2.86%, while Cables sector declined 2.71%. Aditya Birla Capital surged 11.28% on strong quarterly results. Market breadth was positive with 2,373 advancing stocks out of 4,486 traded.
*this image is generated using AI for illustrative purposes only.
Market Wrap: Bulls Take Charge as Indices Close in Green
The Indian stock markets concluded on a positive note on Monday, with both benchmark indices, Nifty 50 and BSE Sensex, posting significant gains. The market sentiment remained upbeat throughout the session, driven by strong performances in select sectors.
Market Overview
The Nifty 50 index closed at 24,722.75, registering a gain of 157.40 points or 0.64% from its previous close. Similarly, the BSE Sensex ended the day at 81,018.72, up by 418.81 points or 0.52%. These gains reflect a robust bullish sentiment in the market.
Sectoral Performance
Top Performing Sectors
| Sector | Average % Change |
|---|---|
| Engineering Services | 2.86 |
| Printing & Stationery | 2.54 |
| Utilities | 1.47 |
| Aerospace & Defense | 1.43 |
The Engineering Services sector led the gains, followed by Printing & Stationery, Utilities, and Aerospace & Defense.
Underperforming Sectors
| Sector | Average % Change |
|---|---|
| Cables | -2.71 |
| Castings, Forgings & Fasteners | -2.26 |
| Diamond, Gems and Jewellery | -2.03 |
| Logistics & Cargo | -0.86 |
The Cables sector faced the most significant decline, followed by Castings, Forgings & Fasteners, and Diamond, Gems and Jewellery.
Buzzing Stocks
Two stocks made headlines during the trading session:
Aditya Birla Capital Ltd: The stock surged by 11.28%, closing at ₹279.80. The company reported strong quarterly results with revenue increasing to ₹95 billion and consolidated net profit growing to ₹8.35 billion.
BirlaNu Limited: Despite positive news about expansion plans, the stock declined by 8.72%, closing at ₹2,027.80. The company's board approved setting up a new Fibre Cement Board plant in Andhra Pradesh with an investment of ₹127 crore.
Market Breadth
The overall market breadth was positive, indicating a bullish sentiment:
| Category | Number of Scrips |
|---|---|
| Total | 4,486 |
| Positive | 2,373 |
| Negative | 2,113 |
Out of the total 4,486 scrips traded, 2,373 advanced while 2,113 declined, showcasing a favorable market breadth.
Conclusion
The Indian stock market demonstrated resilience and strength, with both Nifty 50 and Sensex closing higher. The positive market breadth and strong performances in sectors like Engineering Services and Printing & Stationery contributed to the upbeat sentiment. However, some sectors like Cables and Castings faced headwinds, indicating selective buying interest among investors.
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