Sensex and NIFTY saw bulls running strong for the 3rd consecutive day. Sensex up by 605.64 points at 32720.16 while Nifty crossed the 9500 by gaining 155.25 points today closing at 9536.15. Today’s market closed at seven weeks high with Sensex and Nifty increasing by around 2% intraday.
HDFC gained the most from today’s market and surged over 7%. Other gaining stocks were HCL Tech, M&M, ICICI Bank and Tata Steel.
Top Gainers: Sensex and NIFTY
Hindalco and Adani Ports were the Top gainers in Nifty 50 with value up by 7.03% and 6.58% respectively. In Sensex pack, Housing Development Finance Corporation Ltd gained the most with 6.54%. Other gainers included GAIL, HCL Tech, ZEE Ltd. and HDFC Bank with an increase of 5.26%, 5.07%, 4.33% and 4.15% respectively. Other gainers were M&M, Coal India and Tata Steel with a surge of over 3%.
Today’s Indian market saw a significant boost in their value as Government across the World eased lockdown restrictions. Also, HDFC led the banking stocks for aiming higher, as a result, pulling the market in green.
Losers: Sensex and NIFTY
Axis Bank worst hit today, losing 3.64% of its value. Other stocks that hit red were Asian Paints, Hindustan Unilever and Dr Reddy’s with a loss of 2.71%, 2.44% and 1.72% respectively. Titan, IndusInd Bank, Cipla, Nestle India and Kotak Mahindra Bank also suffered minimal losses of less than 1%.
Lockdown restriction eased in many countries and businesses started to open. Investors are keenly waiting for the Indian government to provide guidelines for business operations and transportation activities to resume in order to lift up the sentiments.
Foreign Institutional Investors saw a great scope in the Indian market. Indian stocks saw an increase in investment of INR 722.08 crores. They bought shares of value INR 5733.65 crores and sold off stocks of around INR 5011.57 crores.
Domestic Institutional Investors bought shares of around 4303.84 crores in the Indian equity market and sold value of 4225.17 crores. An increase of 78.67 crores of investment.