Stock Market Highlights: Nifty, Sensex Record Longest Winning Streak In Nearly Six Months
Eleven out of the 12 sectors on the NSE rose, with the Nifty Defence and PSU Bank gaining the most.
The benchmark equity indices extended its gains for the sixth straight session on Monday, the longest winning streak since September 2024.
The indices closed near a two-month high as the NSE Nifty 50 ended 307.95 points or 1.32% higher at 23,658.35, while the BSE Sensex closed 1,078.87 points or 1.4% up at 77,984.38.
During the day, the Nifty rose as much as 1.53% to 23,708.75, while the Sensex jumped 1.56% to 78,107.23, the highest level since Feb. 7.
Technically, the Nifty has successfully crossed the hurdle of the 100-day simple moving average and formed a bullish candle on the daily charts, signalling strength, according to Hrishikesh Yedve, research analyst at Asit C. Mehta Investment Interrmediates Ltd.
HDFC Bank Ltd., Reliance Industries Ltd., Kotak Mahindra Bank Ltd., ICICI Bank Ltd. and State Bank of India led the gains in the Nifty.
Titan Co., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., Trent Ltd. and IndusInd Bank Ltd. weighed on the index the most.
Eleven out of the 12 sectors on the National Stock Exchange rose, with the Nifty Defence and PSU Bank gaining the most. The Nifty Defence ended in the green for the seventh consecutive day, marking the longest winning streak since December.
All the 21 sectors on the BSE advanced, with Auto, Utilities and Power leading the gains.
The broader markets also advanced, with the BSE MidCap ending with a gain of 1.4% and the SmallCap rising 1.32%.
The market breadth was skewed in favour of the buyers as 1,637 stocks declined, 2,497 advanced and 164 remained unchanged on the BSE.
