Sensex Hits 81,000 Milestone, Nifty Gains 157 Points on Metal and Auto Surge
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The Indian stock market kicked off the week on a high, with benchmark indices posting solid gains on the back of strong performances in the auto and metal sectors. The Sensex crossed the 81,000 mark for the first time, while the Nifty also recorded a sharp uptick, reflecting growing investor optimism amid positive global cues and encouraging domestic trends.
Sensex Crosses 81K for the First Time
On Monday, the BSE Sensex rose by 418.81 points, or 0.52%, to close at 81,018.72, breaching the crucial 81,000 level for the first time ever. In intraday trade, it touched a new high of 81,093.19. The NSE Nifty also surged by 157.40 points (0.64%) to settle at 24,722.75, after hitting a day’s high of 24,734.65.
Who Led the Rally?
The market rally was largely supported by robust buying in metal and auto stocks. Top gainers on the Sensex included:
However, some heavyweights like Power Grid, HDFC Bank, ICICI Bank, and Hindustan Unilever ended the session in the red.
Why the Market Jumped
Several factors lifted market sentiment:
Vinod Nair of Geojit Financial Services noted that improving demand and favourable global indicators are fueling investor confidence.
Global Markets Add to Optimism
Asian markets showed a mixed yet mostly positive trend, with gains in Hong Kong, South Korea, and China. Japan’s Nikkei, however, slipped into the red.
European stocks were trading higher, while US indices had closed slightly lower on Friday.
Other Key Market Trends
Despite a few laggards and ongoing volatility, the Indian equity market’s strong start to the week highlights investor confidence fueled by domestic growth cues and supportive global trends. The Sensex breaching the 81,000 mark is a significant psychological milestone, and all eyes are now on how long this momentum can be sustained.
Sensex Crosses 81K for the First Time
On Monday, the BSE Sensex rose by 418.81 points, or 0.52%, to close at 81,018.72, breaching the crucial 81,000 level for the first time ever. In intraday trade, it touched a new high of 81,093.19. The NSE Nifty also surged by 157.40 points (0.64%) to settle at 24,722.75, after hitting a day’s high of 24,734.65. Who Led the Rally?
The market rally was largely supported by robust buying in metal and auto stocks. Top gainers on the Sensex included: - Tata Steel
- Adani Ports
- M&M
- TCS
- Tech Mahindra
- Bharti Airtel
- Reliance Industries
- L&T
- UltraTech Cement
- HCL Tech
- Trent
- BEL
However, some heavyweights like Power Grid, HDFC Bank, ICICI Bank, and Hindustan Unilever ended the session in the red.
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Why the Market Jumped
Several factors lifted market sentiment: - Strong Q1 earnings from key companies
- Robust auto sales
- Recovery in consumption-driven sectors
- A weakening US dollar
- Anticipation of potential interest rate cuts by the US Federal Reserve, following soft job data
Vinod Nair of Geojit Financial Services noted that improving demand and favourable global indicators are fueling investor confidence.
Global Markets Add to Optimism
Asian markets showed a mixed yet mostly positive trend, with gains in Hong Kong, South Korea, and China. Japan’s Nikkei, however, slipped into the red. European stocks were trading higher, while US indices had closed slightly lower on Friday.
Other Key Market Trends
- Oil Prices: Brent crude dipped 1.15%, trading at $68.87 per barrel.
- FIIs Activity: Foreign Institutional Investors offloaded shares worth ₹3,366.40 crore on Friday, dampening some of the momentum.
Despite a few laggards and ongoing volatility, the Indian equity market’s strong start to the week highlights investor confidence fueled by domestic growth cues and supportive global trends. The Sensex breaching the 81,000 mark is a significant psychological milestone, and all eyes are now on how long this momentum can be sustained.
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