Sensex opens with 300 points gain to touch the 65,000 mark; Nifty in green at 19,265
Share markets updates: Sensex opens with 300 points to touch 65,000 mark; Nifty in green at 19,265.
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Stock markets opening figures: India's blue chip indexes Nifty 50 and Sensex rallied to fresh all-time highs on Monday, aided by broad gains led by financial services' stocks amid improved global cues.
The Nifty index rose as much as 0.74% to 19,331.15, while the S&P BSE Sensex gained 0.79% to 65,232.64, as of 10:06 a.m. IST.
Financial services stocks led gains on the Nifty's sectoral indexes, rising over 1.5%. Index heavyweights HDFC and HDFC Bank gained 2% each, after approving July 1 as the effective date of the two financial behemoths' $40 billion merger.
Bank and auto indexes also hit record highs for the second consecutive session.
Eicher Motors, which reported 26% Y/Y sales growth in June, and Mahindra & Mahindra gained over 2% each and were among the top Nifty gainers.
Metal index gained over 1% and was among the top sectoral gainers.
The rally extended to broader markets as well, with smallcaps gaining over 1.2% to an over 1-year high, while midcap index scaled a new peak.
"Increased buying from foreign investors, a revival in monsoon and positive impact of HDFC merger are the key factors driving the rise in markets," said Prashanth Tapse, senior vice president (research) at Mehta Equities.
{{/usCountry}}"Increased buying from foreign investors, a revival in monsoon and positive impact of HDFC merger are the key factors driving the rise in markets," said Prashanth Tapse, senior vice president (research) at Mehta Equities.
{{/usCountry}}The rise in domestic equities comes on the back of rise in global peers, after data showed cooling of inflation in the U.S. and aided sentiment. [MKTS/GLOB]
{{/usCountry}}The rise in domestic equities comes on the back of rise in global peers, after data showed cooling of inflation in the U.S. and aided sentiment. [MKTS/GLOB]
{{/usCountry}}Among individual stocks, Ultratech Cement rose over 2% and was among top Nifty gainers after reporting 20% growth in total consolidated sales volume in the June quarter.
{{/usCountry}}Among individual stocks, Ultratech Cement rose over 2% and was among top Nifty gainers after reporting 20% growth in total consolidated sales volume in the June quarter.
{{/usCountry}}Mazagon Dock Shipbuilders jumped 7.67% to a record high after signing a contract worth 27.25 billion rupees with the Indian Navy.
{{/usCountry}}Mazagon Dock Shipbuilders jumped 7.67% to a record high after signing a contract worth 27.25 billion rupees with the Indian Navy.
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