Sensex Surges 444 Points, Nifty Closes at 24,750 as Markets Await RBI Policy Decision
The Indian stock markets ended the trading session on a positive note Monday, with the Sensex gaining 443.79 points (0.55%) to close at 81,442.04, while the Nifty50 index advanced 130.7 points (0.53%) to settle at 24,750.9. Market sentiment remained upbeat ahead of the highly anticipated monetary policy decision by the Reserve Bank of India’s (RBI) Monetary Policy Committee later this week.
The rally was led by strong gains in the realty and pharmaceutical sectors, with the Nifty Pharma and Nifty Realty indices each surging over 1.5%. Meanwhile, the broader markets also participated in the upward momentum, as the BSE Midcap index climbed about 0.39% and the Smallcap index rose approximately 0.65%.
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Top Gainers and Losers
Among the top performers on the Sensex were Eternal (Zomato), Power Grid Corporation, ICICI Bank, and Reliance Industries. On the flip side, IndusInd Bank, Axis Bank, Bajaj Finserv, and Bajaj Finance featured among the laggards.
On the Nifty50 index, Eternal (Zomato), Dr Reddy’s Labs, Trent Ltd., and Power Grid Corp were among the leading gainers, while IndusInd Bank and Tata Consumer Products were among the top losers, according to market data.
Cochin Shipyard Shares Surge
In a notable development, shares of Cochin Shipyard witnessed a sharp rally, surging as much as 13% to reach levels last seen in August 2021. The stock’s impressive performance caught the attention of market participants and analysts alike.
Market Outlook
As investors eagerly await the RBI’s monetary policy decision, market analysts suggest that the central bank’s stance on interest rates and economic growth projections will likely set the tone for the markets in the near term. While the recent rally has boosted investor sentiment, experts advise caution and recommend closely monitoring key economic indicators and global market trends for further cues.
