Sensex Rallies 364 Points, Nifty Ends Above 15,850; Realty Shares Outperform

Published:Nov 29, 202304:02
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Sensex Rallies 364 Points, Nifty Ends Above 15,850; Realty Shares Outperform

The Indian fairness benchmarks closed increased on Monday paced by robust shopping for curiosity in index heavyweights Reliance Industries, Infosys, Tata Consultancy Services, HDFC, Axis Bank and Titan. The Sensex rose as a lot as 400 factors and Nifty 50 index touched an intraday excessive of 15,892.50. Market sentiment turned bullish after authorities information confirmed that Goods and Services Tax (GST) collections for July 2021 got here in at Rs 1.16 lakh crore, 33 per cent greater than the corresponding interval of final yr. Strong pattern in different international markets additionally added to the bullish sentiment.

The Sensex ended 364 factors increased at 52,951 and Nifty 50 index climbed 122 factors to shut at 15,885.

"Sentiments got the boost as GST collection recovered to a three-month high in July, exceeding Rs 1.1 trillion, as economic activity resumed. 15,950 is an important level in the market if the market sustains above 15,950, we can expect the market to trade till the level of 16,150-16,200. Technical indicators also support positivity in the market," Gaurav Garg, head of analysis, CapitalVia Global Research stated.

European markets had been buying and selling increased with England's FTSE 100 index up 1 per cent, France's CAC40 index advancing 0.9 per cent and Germany's DAX climbing 0.3 per cent.

Back dwelling, shopping for was seen throughout the board as all of the 11 sector gauges compiled by the National Stock Exchange ended increased led by the Nifty Realty index's almost 5 per cent acquire.

Nifty Auto, Information Technology, PSU Bank and Financial Services indices additionally rose between 0.8-1 per cent.

Mid- and small-cap shares outperformed their bigger friends as Nifty Midcap 100 index climbed 1.6 per cent and Nifty Smallcap 100 index superior 0.85 per cent.

Among the person shares, Indian Railway Catering and Tourism Corporation (IRCTC) shares surged greater than 7 per cent in a powerful market on the information that the board will meet on August 12 to think about splitting shares of the corporate.

Shares of the Mumbai-based drug maker Bliss GVS Pharma - rose as a lot as 16 per cent to hit an intraday excessive of Rs 124.60 after the corporate reported robust June quarter earnings. Bliss GVS Pharma's consolidated internet revenue in quarter ended June 2021 rose 57 per cent to Rs 26 crore in contrast with Rs 16.65 crore in the identical quarter final yr. Its income from operations superior 30 per cent to Rs 168 crore versus Rs 129.5 crore within the corresponding interval a yr in the past.

Titan was high Nifty gainer, the inventory rose 3.6 per cent to shut at Rs 1,776 a day forward of its June quarter earnings. Shree Cements, Bharat Petroleum, Adani Ports, Eicher Motors, Indian Oil, Grasim Industries, Britannia and Mahindra & Mahindra additionally rose between 2-3.5 per cent.

On the flipside, UPL, Tata Steel, Bajaj Finserv, Bajaj Finance, Tech Mahindra, NTPC, Sun Pharma, Dr Reddy's Labs, HDFC Bank and ICICI Bank had been among the many losers.

The total market breadth was extraordinarily optimistic as 2,179 shares ended increased whereas 1,157 closed decrease on the BSE.


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