Following a prolonged period of decline in the stock market, a sharp rise was observed on Monday, with both market indices opening with strong momentum. The BSE index, comprising 30 stocks, showed an impressive jump of over 600 points, while the NSE Nifty index also rose by 150 points.
Amid this market rally, shares of companies such as Bajaj Finance, ITC, and SBI demonstrated significant growth.
Trading on the stock market on Monday began with a vigorous surge. The BSE Sensex index opened at 72,340 rupees, higher than the previous close of 71,909. Its pace quickly accelerated, and within just a few minutes, the BSE Sensex traded at 72,534, showing a strong increase of 625 points.
The NSE Nifty index followed the trend of the Sensex, increasing its momentum. This index, which includes 50 stocks, opened at 22,532 rupees compared to the previous close of 22,421, and then its growth continued, reaching the mark of 22,595.
This market upturn occurred after a long period of decline. Over approximately eight weeks, the Sensex and Nifty were under significant pressure. The main reasons cited for the market pressure were selling by foreign funds and volatility in crude oil prices. It is worth noting that this was the first time in 25 years that the Indian stock market had fallen continuously for 8 weeks.
The figures from the last trading day of last week were characterized by a substantial drop: the BSE Sensex closed at 71,909.70, losing 570.59 points, and the NSE Nifty finished trading at 22,421.95, declining by 198.50 points.
With increased market activity, here is information on the stocks that showed significant growth right from the start of trading. In the Largecap category of the BSE, shares of Bajaj Finance (up 4%), TCS (up 2.25%), ITC (up 1.70%), Reliance (up 1.40%), and SBI (up 1.25%) traded actively.
As for Midcap, there was growth in the shares of Nykaa (up 5%), Persistent (up 4.20%), MPhasis (up 3.50%), and Coforge (up 2.80%). Additionally, among Smallcap stocks, TD Power (up 7%), Redington (up 4.50%), and KFintech (up 3.90%) saw gains.