The benchmark indices started the week on an upbeat mood on Monday, tracking firm trade in Asia this morning, and on Wall Street last Friday. The benchmark S&P BSE Sensex rallied 642 points to quote at 55,526, while the Nifty50 advanced 175 points to 16,528.
Top Gainers And Losers
M&M (up 3 per cent), Infosys, Tech M, HDFC, Bajaj Finance, Wipro, IndusInd Bank, HCL Tech, TCS, and ICICI Bank were leading from the front on the Sensex index. On the downside, only Bharti Airtel, and NTPC were down in the red.
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Broader Index
In the broader market, the BSE MidCap and SmallCap indices added up to 1.3 per cent. Sectorally, all the indices advanced in tandem with the market mood with the Nifty IT index adding 1.7 per cent.
Among individual stocks, Nykaa surged over 3 per cent despite muted Q4 results.
Elsewhere, 3M India surged over 15 per cent after the company reported total income of Rs. 934.8062 crores during the period ended March 31, 2022. The company’s net profit was Rs. 110.91 crores.
Unichem Labs, meanwhile, added 18 per cent on dividend bounty of Rs 4 per share. The company also posted net profit of Rs 71.5 crore in Q4FY22 as against a loss of Rs 91 lakh during the last period.
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Global Cues
US stocks enjoyed a broad-based rally on Friday, while the yield on benchmark US Treasuries fell after data showed that US consumer spending rose in April and the uptick in inflation slowed, two signs the world’s largest economy could be on track to grow this quarter. The Dow Jones Industrial Average rose 575.77 points, or 1.76 per cent, to 33,212.96, the S&P 500 gained 100.4 points, or 2.47 per cent, to 4,158.24 and the Nasdaq Composite added 390.48 points, or 3.33 per cent, to 12,131.13.
Tokyo stocks opened higher on Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators due this week. The benchmark Nikkei 225 index was up 1.21 per cent, or 323.48 points, at 27,105.16 in early trade, while the broader Topix index was up 1.01 per cent, or 19.03 points, at 1,906.33.
Hong Kong and mainland Chinese stocks opened higher Monday, in line with gains across Asia and following another rally on Wall Street, with confidence boosted by an easing of long-running Covid curbs in Shanghai. The Hang Seng Index added 1.14 per cent, or 236.14 points, to 20,933.50. The Shanghai Composite Index edged up 0.37 per cent, or 11.72 points, to 3,141.96, while the Shenzhen Composite Index on China’s second exchange gained 0.49 per cent, or 9.66 points, to 1,964.69.
