Sensex Gains 529pts, Ends Near 66,600; Nifty Sails Past 19,700; SBI Climbs 3%

Sensex Today: Key benchmark indices witnessed a steady uptrend on Monday, hitting new all-time highs on the way. The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, before settling at 66,590, soaring 529 points or 0.8 per cent.

The Nifty50, too, hit a new record high of 19,732. It, eventually, settled at 19,721, up 157 points or 0.8 per cent.

SBI (up 3 per cent) was the top winner at the bourses, followed by Wipro, DR Reddy’s Labs, Grasim, HDFC Bank, RIL, IndusInd Bank, Kotak Bank, Adani Enterprises, Tech M, ICICI Bank, Asian Paints, and Maruti Suzuki.

In the broader markets, the BSE MidCap index settled 0.3 per cent up, while the BSE SmallCap index advanced 0.85 per cent. The indices hit new highs of 29,593 and 34,079, respectively.

Among sectors, the Nifty PSU Bank index jumped over 2 per cent, the Nifty Bank index 1.5 per cent, and the Nifty IT index 0.4 per cent.

Wipro was ruling 3.5 per cent higher, followed by Infosys (2 per cent), Tech M (1.7 per cent), and HCL Tech (1.3 per cent). Tata Steel, TCS, Asian Paints, Power Grid, Nestle India, and JSW Steel were other winners.

Among individual stocks, shares of Angel ONE dropped 5 per cent after the National Stock Exchange (NSE) slapped Rs 1.67 crore monetary penalty and stopped the brokerage from onboarding new authorised persons (APs) for six months over alleged violation of capital market regulations.

Those of JSW Energy, too, declined 3 per cent as the company’s consolidated net profit declined 48 per cent YoY to Rs 289.88 crore in Q1FY24, wing to weakness in its hydro energy, short-term sales, and coal segments, along with charges related to debt-refinancing

Global Cues

Asian shares got off to a subdued start on Monday as markets braced for a raft of Chinese economic data that could well underwhelm, while earnings season picks up steam with Tesla on the docket.

The S&P 500 ended down slightly on Friday, with bank and financial shares mostly lower on the day following quarterly reports that kicked off earnings season, but all three major U.S. stock indexes posted solid weekly gains.