India's benchmark stock indices, Nifty and Sensex, ended at over one-week highs on Monday, tracking the sharp gains in Infosys Ltd. and HDFC Bank Ltd. Market participants await earnings from Reliance Industries Ltd. and HCL Technologies Ltd. for cues. To get live updates on RIL Q2 earnings, click here.
The NSE Nifty 50 ended 0.66% higher at 25,127.95, and the BSE Sensex closed 0.73% higher at 81,973.05. Both the indices closed at their highest levels since Oct. 3.
During the session, the Nifty 50 rose 0.78% to 25,159.75, and the Sensex rose 0.85% to 82,072.17.
"A bullish Marubozu Open candlestick pattern was formed on the daily chart and breached its congestion zone and 50-day DMA hurdle (for the Nifty); however, in the lower timeframe, i.e., hourly chart, a convincing move above 25,200 will confirm the same," said Aditya Gaggar, director, Progressive Shares. "On the downside, the psychological level of 25,000 will work as immediate support, and on the flip side, 25,160–25,200 will be considered a resistance zone."
Infosys Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and Kotak Mahindra Bank Ltd. added to the Nifty 50.
Nestle India Ltd. Maruti Suzuki India Ltd., Bajaj Finance Ltd., Oil and Natural Gas Corp., and Tata Steel Ltd. weighed on the index.
On NSE, nine sectors advanced and three declined. The NSE Nifty Realty rose the most, and the NSE Nifty Media declined the most.
Broader indices underperformed, with BSE Midcap adding 0.28% and BSE Smallcap closing 0.06% higher.
Four of the 20 sectoral indices ended lower and 16 rose. BSE Realty rose the most.
Market breadth was skewed in the favour of buyers. As many as 2,070 stocks rose, 1,972 declined, and 153 remained unchanged on the BSE.
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