Stock market starts trading with gains

Mumbai:

The country's stock markets have started trading with a rise in both major indices on Monday. In the morning, the Sensex saw an increase of 214 points, while the Nifty saw an increase of 75 points. The Sensex was trading at 65601 while the Nifty was trading at 19510.

Buoyed by strong global cues and improved economic growth numbers, the BSE benchmark Sensex jumped 556 points on Friday, led by buying in energy, metal and oil stocks, while the Nifty again hit the 19,400-mark. The 30-share BSE index ended 555.75 points or 0.86 per cent higher at 65,387.16. It hit an intra-day high of 19,435.30. 30 out of 26 Sensex companies were profitable.

Similarly, the broader NSE Nifty rose 181.50 points, or 0.94 per cent, to close at 19,435.30. 50 out of 44 Nifty companies closed with gains.

Among the Sensex stocks, NTPC was the top gainer, rising 4.84 per cent. On the other hand, JSW Steel, Tata Steel, Maruti Suzuki, Power Grid, IndusInd Bank, Bajaj Finance and Tech Mahindra were among the top gainers.

On the other hand, UltraTech Cement, Sun Pharma, Nestle and L&T closed with losses.

According to official data released on Thursday, the country's economic growth rate (GDP) was 2023.24 percent in the first quarter (April-June) of the current financial year 7-8 due to better performance of the services sector. This is the highest growth rate in the last four quarters.
Barring healthcare, all other sectoral indices were on a bullish note. Metal was the top gainer, rising 3.32 per cent, followed by people-centric services indices rising 3.09 per cent and telecom 2.73 per cent.

Elsewhere in Asia, Japan's Nikkei, South Korea's Kospi and China's Shanghai Composite Index ended with gains.