Sensex rises for 5th session, gains 282 points; Nifty closes at new high riding on auto stocks
Sensex extended gains for the fifth straight session, with the latter ending at a fresh record high in a volatile market on Monday, led by financials, auto and energy stocks.
The BSE benchmark Sensex rose 282 points or 0.39% to settle at 72,708. The broader NSE Nifty surged 81 points or 0.37% to end at 22,122.
Among the Sensex stocks, Bajaj Finserv, Bharti Airtel, ICICI Bank, Bajaj Finance, Sun Pharma, and Maruti closed higher, while L&T, Wipro, TCS, Tata Motors, and Axis Bank ended with cuts.
PB Fintech (Policy Bazar) shares closed 7.7% higher after the insurance regulator IRDAI upgraded the licence of the company's wholly-owned subsidiary Policybazaar Insurance Brokers Private Limited to 'Composite Insurance Broker' from 'Direct Insurance Broker'.
While Sula Vineyards closed 7.8% lower amid a block deal where 12% equity is reported to have changed hands. One of the stakeholders, Verlinvest, is reported to have offloaded shares in the Nashik-based vine maker.
On the setotal front, Nifty Consumer Durables surged 1.9%, led by Rajesh Exports, Dixon Technologies, and Orient Electric. Nifty FMCG, Pharma, Bank, Auto and Financial Services also closed higher.
The market capitalisation of all listed companies on BSE surged by Rs 2.17 lakh crore to Rs 391.7 lakh crore. The market breadth was skewed in the favour of the bulls. About 2,431 stocks gained, 1,535 declined, and 136 remained unchanged on the BSE.
Expert Views
«Despite an unattractive risk reward, the broader market continued its outperformance in expectation
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