Indian stock market closed with a gain of about 500 points amid strong global cues
Mumbai: Domestic benchmark indices closed in the green on Monday amid strong global cues after falling nearly 5 per cent in the last five trading sessions. Heavy buying was seen in the realty and PSU bank sectors of Nifty. At the end of trading, the Sensex closed at 78,540.17 with a gain of 498.58 points or 0.64 per cent and the Nifty closed at 23,753.45 with a gain of 165.95 points or 0.70 per cent.
Nifty Bank closed at 51,317.60 with a gain of 558.40 points or 1.10 per cent. The Nifty Midcap 100 index closed at 57,092.9 with a gain of 186.15 points or 0.33 per cent. At the same time, the Nifty Smallcap 100 index closed at 18,687.80 with a decline of 26.50 points or 0.14 per cent. Indian stock markets showed optimism after the recent sell-off.
According to market experts, lower-than-expected personal consumption expenditure (PCE) data in the US strengthened investor sentiment in the interest rate-sensitive sector. Broad-based buying was witnessed, with the metals sector particularly benefiting from the hike in steel import taxes. Experts said, “Despite the positive market sentiment, the short-term outlook is expected to remain stable due to the lack of new catalysts and the impact of the festive season and holidays.” On the Bombay Stock Exchange (BSE), 1,640 stocks closed in the green and 2,445 in the red, while 133 stocks remained unchanged.
On the sectoral front, all sectors except auto, media and healthcare closed in the green. ITC, Tech Mahindra, HDFC Bank, IndusInd Bank, Titan, SBI, ICICI Bank, Adani Ports, Tata Steel and Bharti Airtel were the top gainers in the Sensex pack. Meanwhile, Zomato, Maruti, Nestle India, HCL Tech and Bajaj Finserv were the top losers. Foreign institutional investors (FIIs) sold shares worth Rs 3,597.82 crore on December 20, while domestic institutional investors bought shares worth Rs 1,374.37 crore on the same day. In early trade, the Indian stock market was up over 600 points amid positive mixed global cues.
