Sensex, the key equity benchmark in India, started the day on a positive note fueled by strong global cues. At 10 am, Sensex surged by 412 points to reach 65,756, while the Nifty50 rose by 129 points to 19,484.
Several stocks contributed to the upward trend on the Sensex platform. Sun Pharma, Bajaj Finserv, L&T, Maruti, Asian Paints, and Nestle were among the top gainers. However, Wipro, HCL, SBI, and Tata Steel faced early losses.
In terms of specific stocks, PCBL witnessed a 5% spike as it commissioned the first phase of its specialty chemicals capacity expansion in Mundra, Gujarat. The new expansion has a capacity of 20,000 MTPA. Conversely, Vedanta slipped 2% following Foxconn’s decision to withdraw from their joint venture for a semiconductor unit.
The broader markets also experienced positive movement, with the BSE Midcap and Smallcap indices rising up to 0.5%.
In the previous session, the S&P BSE Sensex closed at 65,344, up 64 points, while the NSE Nifty50 ended at 19,356, with a gain of 24 points.
The overall market sentiment remains optimistic as global markets continue to show strength. This upward trend is buoyed by positive cues from various sectors, including pharmaceuticals, finance, and automobile.
Investors are closely watching the developments in the market and making informed decisions based on the performance of individual stocks. The fluctuations in stock prices create opportunities for investors to capitalize on the market movements.
As the day progresses, market participants will keep a close eye on crucial economic indicators, corporate earnings, and global trends. These factors will continue to shape the market’s trajectory and provide opportunities for investors to make strategic investment decisions.
Disclaimer: The information provided in this article does not constitute investment advice. The stock market is subject to risks, and individuals should conduct thorough research and consult with a financial advisor before making any investment decisions.
