Indian stock market sees b gains today. Nifty crosses 25,000, and Sensex opens at 81,541 with a gain of 944 points. PM Modi's announcement of GST reforms and S&P Global Ratings upgrading banks' and financial companies' ratings boosted market sentiment.
Stock Market Today: Indian stock market opened on a b note on Monday morning, with the Nifty crossing 25,000 and the Sensex climbing 944 points to reach 81,541. PM Modi's announcement of GST reforms, the meeting between US President Donald Trump and Russian President Putin, and S&P Global's rating upgrade of seven banks and three financial companies clearly impacted the market. In early trading, Hero MotoCorp, Maruti, and Bajaj Finance were among the top gainers, while HCL Tech, L&T, and TCS saw declines.
Big Jump in Early Trading
As soon as the market opened at 9:15 AM, the Sensex jumped 944 points to reach 81,541.79. Meanwhile, the Nifty opened with a leap of 316 points at 24,947.65. This rise was mainly due to several major news items and positive global cues over the weekend.
Reasons for the Market Rise
Several major factors emerged that influenced the market. Prime Minister Narendra Modi announced GST reforms, which investors considered a positive signal. Additionally, the international environment improved after the meeting between US President Donald Trump and Russian President Vladimir Putin. This had a direct impact on the Indian market, and investors showed interest in buying.
Gift Nifty Gave Indications
Even before the market opened, Gift Nifty had shown trends. Gift Nifty was trading around the 24,915 level, which was a premium of about 230 points from the previous closing price. It was estimated that the Indian market would start the week with b gains, and that is exactly what happened.
Top Gainers and Losers
On Monday, the Nifty saw the highest gains in auto and financial stocks. Hero MotoCorp, Maruti Suzuki, Bajaj Finance, HUL, and Bajaj Finserv were the top gainers. On the other hand, IT and pharma stocks faced pressure. HCL Technologies, L&T, Dr. Reddy's Labs, and TCS saw declines.
Impact of S&P Global Rating
S&P Global Ratings upgraded the credit ratings of seven major Indian banks. These include State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Union Bank of India, and Indian Bank. In addition, the ratings of companies like Bajaj Finance, Tata Capital, and L&T Finance were also improved. This news had a direct impact on the shares of these banks and financial companies, and gains were seen.
How was the Market Last Week?
Last week, the Indian stock market experienced a period of volatility. On Thursday, the Nifty closed with a marginal gain at 24,631.30, while the Sensex stood at 80,597.66. The markets were closed on August 15 due to Independence Day. However, the start of this week has been much more enthusiastic compared to last week.
Investors' Interest Remains
During this period of gains, investors' interest is most visible in the auto and banking sectors. Continued positive results and expectations of government reforms are driving strength in these sectors. On the other hand, pressure on IT stocks still persists, which is clearly visible on the Nifty IT index.
