Sensex Finishes at Over 8-Month High
India's BSE Sensex navigated a volatile trading session before closing marginally up at 81,106.7 on Monday, its strongest level since late February, extending its winning streak to eight consecutive sessions. Some signs of consolidation emerged after last week's rally buoyed by a revival in foreign investor demand, relatively attractive equity valuations, easing crude oil prices and improving corporate earnings. PSU banks emerged as the key drivers of the market, while select financial stocks also witnessed buying interest. On the other hand, IT and metal stocks remained under pressure, with pharma stocks showing mixed performance. State Bank of India was the top gainer, rising 2.4%. HDFC Bank advanced 1.5%, while ICICI Bank added 1.2%. Trent, L&T, NTPC, Maruti and M&M also gained, rising between 0.6%-2.1%. On the downside, HCL Technologies, Tata Steel, UltraTech Cement, Bajaj Finance and Tech Mahindra posted the biggest losses.
India's BSE Sensex navigated a volatile trading session before closing marginally up at 81,106.7 on Monday, its strongest level since late February, extending its winning streak to eight consecutive sessions. Some signs of consolidation emerged after last week's rally buoyed by a revival in foreign investor demand, relatively attractive equity valuations, easing crude oil prices and improving corporate earnings. PSU banks emerged as the key drivers of the market, while select financial stocks also witnessed buying interest. On the other hand, IT and metal stocks remained under pressure, with pharma stocks showing mixed performance.
State Bank of India was the top gainer, rising 2.4%. HDFC Bank advanced 1.5%, while ICICI Bank added 1.2%. Trent, L&T, NTPC, Maruti and M&M also gained, rising between 0.6%-2.1%. On the downside, HCL Technologies, Tata Steel, UltraTech Cement, Bajaj Finance and Tech Mahindra posted the biggest losses.