Only three stocks—Dr Reddy’s, NTPC, and IndusInd Bank—closed in the negative, each losing up to 0.66 percent.
On Monday, amid a mixed trend internationally, the Nifty jumped beyond the 18,000 level and the Sensex concluded above the psychologically significant 60,000-point barrier.
Investors’ desire for equities was unabated by the weakening of the rupee and worries over the US Federal Reserve raising rates later this week, according to brokers.
The 30-share BSE Sensex increased by 786.74 points, or 1.31%, to close at 60,746.59.
With a gain of 4.18 percent, UltraTech Cement led the list of Sensex gainers, followed by HDFC, Sun Pharma, M&M, HDFC Bank, Larsen & Toubro, Bajaj Finserv, and Bajaj Finance.
Only three stocks—Dr Reddy’s, NTPC, and IndusInd Bank—closed in the negative, each losing up to 0.66 percent.
In contrast to the prior assumption of a more aggressive rate increase, investors are expecting a lesser rate hike by the US Federal Reserve this week. These feelings of confidence have sparked a rapid rise that has lifted both local benchmark indexes past their crucial psychological thresholds.
“FIIs are also taking a fresh look at local equities, which has strengthened investor optimism. However, markets may see a sharp correction in the near future if the Fed adopts a hawkish attitude, according to Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Despite early expectations for a more aggressive rate increase, investors are hoping for a lesser rate boost this week from the US Federal Reserve. Both of the local benchmark indexes have crossed over their important psychological thresholds as a result of this optimism-fueled strong increase.
According to Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd., markets might experience a sharp correction in the near future if the Fed takes any aggressive stances.
All BSE sectoral indexes finished in the green, with auto up 1.57 percent, teck 1.45 percent, industrials 1.43 percent, consumer discretionary 1.37 percent, telecoms 1.35 percent, and commodities 1.35 percent (1.12 percent).
Benchmark Brent crude for international oil prices was down 0.31 percent at USD 95.47 per barrel.
On Monday, the rupee lost some of its early gains and fell 31 paise to 82.78 (provisional) versus the US dollar, following the rise of the US dollar in foreign exchange markets.
According to exchange statistics, foreign institutional investors (FIIs) purchased shares on Friday totaling a net amount of Rs. 1,568.75 crore.
