Nifty and Sensex rise on Monday as benchmarks end session higher
The NSE Nifty 50 gained 1.68 per cent while the BSE Sensex advanced 1.66 per cent during the first trading session of the week.
Indian equity benchmarks closed higher on Monday, driven by improved domestic market cues and better September quarter earnings, according to The Economic Times. The NSE Nifty 50 rose by 388 points, or 1.68 per cent, to settle at 23,441, while the BSE Sensex climbed 1,233 points, or 1.66 per cent, to close at 75,693.
The Nifty Oil & Gas index was the top performer with a surge of nearly 6 per cent, followed by the Nifty Metal index which rose more than 3 per cent. Other indices, including Nifty Auto, Nifty PSU Bank, Nifty Consumer Durables, and Nifty Realty, all advanced between 1 per cent and 2 per cent.
In contrast, the Nifty Pharma, Nifty Private Bank, and Nifty IT indices declined. Broader markets also saw gains, with the Nifty Smallcap 250 rising 1.35 per cent and the Nifty Midcap 100 gaining over 1 per cent.
Market breadth remained positive on the NSE, where 2,445 stocks advanced against 1,164 declines, while 104 stocks remained unchanged.
Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, noted that the Nifty closed above its 50-day SMA and approached the 23,500 resistance area. Radhakrishnan said the 23,250–23,350 band should provide immediate support, and holding it could lead toward 23,600.