Stock Market Highlights: Nifty, Sensex Reverse Two-Day Losing Streak As RIL, ICICI Bank Shares Lead
The NSE Nifty 50 and BSE Sensex rebounded from a two-day slump on Monday as Reliance Industries share price led. Moreover, fear about the trade war reduced subsequently, supporting the emerging markets' assets.
The Nifty 50 ended 289.15 points or 1.20%, higher at 24,328.50, and the Sensex ended 1,005.84 points, or 1.27%, higher at 80,218.37.
Reliance Industries share price jumped 5.71% to Rs 1,374.60 apiece, the highest level since Oct 22, 2024. The share price of the oil-to-telecom giant posted a 5% increase in net profit during January–March.
During the session, the Nifty 50 rose 1.31% to 24,355.1, and the Sensex rose 1.40% to 80,321.88. Earlier in the day, the Indian benchmark indices outperformed most markets in the Asia-Pacific region.
"Market sentiment remained sensitive to any updates, as progress between the two economies could significantly influence global trade dynamics," said Sundar Kewat, technical and derivatives analyst, Ashika Institutional Equity.
Reliance Industries Ltd., ICICI Bank Ltd., Axis Bank Ltd., State Bank of India and HDFC Bank Ltd. added to the Nifty 50 index.
Shriram Finance Ltd., HCLTech Ltd., Hindustan Unilever Ltd., UltraTech Cement Ltd. and Eternal limited gains on the Nifty 50 index.
On NSE, 14 sectoral indices ended higher out of 15, with the NSE Nifty Defence rising the most. The NSE Nifty IT declined the most.
On BSE, the BSE Midcap and Smallcap indices ended 1.34% and 0.39% higher.
Around 19 sectors advanced and two declined out of 21. The BSE Oil & Gas rose the most, while the BSE Focused IT declined the most.
Market breadth was evenly split between buyers and sellers. Around 1,060 stocks advanced, and 1,048 stocks declined on BSE.
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