Mumbai: During early trade on Monday, equity benchmark indices bounced back, with the Nifty reaching a new record high, fueled by foreign fund inflows and a surge in the US markets. The BSE Sensex, with 30 shares, rose 180.92 points to reach 83,071.86 during the opening session. The NSE Nifty increased by 55.1 points to reach 25,411.60. Afterwards, the NSE index surged by 89.2 points, reaching a historic high of 25,445.70.
NTPC, Axis Bank, Tata Steel, JSW Steel, Kotak Mahindra Bank, Bajaj Finserv, Larsen & Toubro and Bajaj Finance were the largest beneficiaries among the 30 companies listed on the Sensex. Hindustan Unilever, Nestle, ICICI Bank, and Tata Consultancy Services were the ones lagging behind. In Asian markets, Shanghai and Hong Kong were experiencing a decline in trading.
On Friday, the US markets closed with gains. According to data from the exchange, Foreign Institutional Investors (FIIs) purchased equities totaling Rs 2,364.82 crore on Friday. DIIs purchased equities valued at Rs 2,532.18 crore as well. Brent crude, the global oil benchmark, saw a 0.07 per cent increase, reaching USD 71.66 per barrel in trading.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated that worldwide stock markets will pay attention to the Federal Reserve's rate decision on Wednesday, as it is expected to impact the short-term trend of the stock market. The BSE benchmark Sensex dropped 71.77 points on Friday, representing a 0.09 pc decrease to close at 82,890.94. The NSE Nifty fell by 32.40 points, which is equivalent to 0.13%, to reach 25,356.50.
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