On Monday, both the Sensex and Nifty, two prominent benchmark indices, closed higher for the second consecutive session. This increase was primarily driven by significant buying activity in heavyweight stocks such as Reliance Industries, ICICI Bank, and M&M, in line with the positive trend observed in global markets.
The 30-share BSE Sensex rose by 240.36 points or 0.38 percent, settling at 62,787.47. Throughout the day, it reached a peak of 62,943.20 after climbing by 396.09 points or 0.63 percent.
The NSE Nifty advanced by 59.75 points or 0.32 percent, concluding at 18,593.85.
Among the constituents of the Sensex, Mahindra & Mahindra experienced a substantial increase of 3.81 percent, while Axis Bank showed a growth of 2.68 percent. Other gainers included Tata Motors, Larsen & Toubro, Tata Steel, ICICI Bank, Reliance Industries, Maruti, IndusInd Bank, and Sun Pharma.
On the other hand, Asian Paints, Tech Mahindra, Nestle, Hindustan Unilever, Kotak Mahindra Bank, and ITC were among the underperformers.
In the Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong concluded the day with gains.
European equity markets were trading with a mixed performance, while the US markets closed significantly higher on Friday.
US President Joe Biden signed legislation on Saturday that raised the nation’s debt ceiling, thereby averting an unprecedented default on the federal government’s debt.
According to a monthly survey released on Monday, India’s services sector growth slightly eased in May but still showed the second-strongest rate of growth in nearly 13 years, supported by favourable demand conditions and new client acquisitions. The seasonally adjusted S&P Global India Services PMI Business Activity Index dropped from 62 in April to 61.2 in May. Despite the decline from the previous month, the latest reading indicated that output expanded at the second-fastest pace since July 2010.
The global oil benchmark, Brent crude, experienced a significant jump of 1.92 percent, reaching USD 77.59 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth ₹658.88 crore on Friday.
On Friday, the BSE benchmark increased by 118.57 points or 0.19 percent, settling at 62,547.11. The Nifty also advanced by 46.35 points or 0.25 percent, concluding at 18,534.10.
