Stock Market Today: Sensex rallies 322 points, Nifty settles over 17,900-mark led by IT stocks

Share Market News Today, Sensex, Nifty, Share Price Today: The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their winning momentum for the third consecutive session on Monday and ended over 0.5 per cent led by gains in IT and select financial stocks amid gains in the global market.

The S&P BSE Sensex surged 321.99 points (0.54 per cent) to end at 60,115.13 while the Nifty 50 rose 103.00 points (0.58 per cent) to settle at 17,936.35. Both the indices had opened over 0.4 per cent higher earlier in the day and traded in the green throughout the session. The BSE benchmark hit an intraday high of 60,284.55 and the broader Nifty touched 17,980.55.

On the Sensex pack, Titan Company, Axis Bank, Tech Mahindra, Tata Steel, Infosys, Bajaj Finance, Ultratech Cement, Wipro, Reliance Industries (RIL) and Tata Consultancy Services (TCS) were the top gainers on Monday. In contrast, the HDFC twins – Housing Development Finance Corporation (HDFC) and HDFC Bank were the top losers followed by Nestle india, Hindustan Unilever (HUL), Mahindra & Mahindra (M&M) and Bajaj Finserv.

Among the sectoral indices, the Nifty IT index rose 1.42 per cent, Nifty Media climbed 1.98 per cent, Nifty Realty surged 2.20 per cent and Nifty Consumer Durables gained 1.35 per cent.

In the broader market, the S&P BSE MidCap rose 230.21 points (0.89 per cent) to end at 26,167.43 while the S&P BSE SmallCap settled at 29,823.68, up 294.94 points (1.00 per cent).

Commenting on the Nifty, Rupak De, Senior Technical Analyst at LKP Securities said “Nifty started on a positive note following strong global cues. On the higher end, Nifty found resistance before ending with a gain of ~0.60 per cent. The daily momentum indicator RSI remains in the green crossover. The short-term trend is likely to remain strong as long as it remains above 17,700. On the higher end, Nifty has resistance at 18,000-18,100 zone. Support is seen at 17,880/17,770.”

Global Market (from Reuters)

European shares jumped on Monday after Ukrainian forces made a rapid advance in Kharkiv province in Russia’s worst setback since its Kyiv push was abandoned in March, while the euro extended on last week’s European Central Bank inspired gains.

On Saturday, Moscow abandoned its main bastion in northeastern Ukraine, in a sudden collapse of one of the war’s principal front lines after Ukrainian forces made a rapid advance.

The broad pan-European STOXX 600 index was up 0.7 per cent in early trade, hitting its highest since the end of August. Germany’s DAX rose 1.4 per cent, France’s CAC 40 and Britain’s FTSE 100 both jumped 1 per cent.

Asian shares also rallied in slow trading with China and South Korea out for a holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent, having bounced modestly from a two-year low hit last week. Japan’s Nikkei added another 1.2 per cent, after rallying 2 per cent last week.

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