Domestic markets continue to rise for the fifth consecutive day on Monday
Mumbai. Mumbai’s domestic market continued to rise for the fifth consecutive day on Monday. Analysts said clear majorities for the Bharatiya Janata Party (BJP) in state elections in Madhya Pradesh, Rajasthan and Chhattisgarh as well as continued foreign inflows contributed to positive developments last week. He said that oil prices falling below $80 per barrel will also improve investor sentiment.
In early trade, the 30-share BSE Sensex rose 877.43 points to 68,358.62. Meanwhile, Nifty gained 284.80 points to reach a record high of 20,552.70. Among Sensex stocks, Adani Enterprises and Adani Ports were the top gainers, rising 6.79% and 4.52% respectively.
Shares of SBI, ICICI Bank, Bharti Airtel, NTPC and Larsen & Toubro also rose. Meanwhile, Maruti, Britannia and Dr. Reddy’s Labs incurs losses. Among other Asian markets, China’s Shanghai and Hong Kong were in the headlines. American markets closed with gains on Friday. Global oil benchmark Brent crude fell 0.63 percent to $78.38 per barrel. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 1,589.61 crore on Friday.
