December 23rd 2024.
Mumbai witnessed a significant bounce back in the equity market on Monday after five consecutive days of sharp decline. This was largely due to investors taking advantage of lower prices and a positive global sentiment. The Sensex and Nifty, the two main indices, saw a considerable rise in value, also aided by strong buying in top companies such as ITC, HDFC Bank, and Reliance Industries.
The 30-share BSE benchmark Sensex showed a remarkable jump of 498.58 points or 0.64%, closing at 78,540.17. It reached a peak of 876.53 points or 1.12% during the day, touching 78,918.12. Similarly, the NSE Nifty also saw a surge of 165.95 points or 0.70%, settling at 23,753.45. Among the 30 blue-chip stocks, the biggest gainers were ITC, Tech Mahindra, HDFC Bank, Reliance Industries, IndusInd Bank, Titan, State Bank of India, and ICICI Bank. On the other hand, new entrant Zomato, Maruti, Nestle, HCL Tech, Bajaj Finserv, and Tata Motors were among the laggards.
In the Asian market, Seoul, Tokyo, and Hong Kong ended the day on a positive note, while Shanghai closed with a slight dip. In Europe, most markets were trading lower, while Wall Street had a positive finish on Friday. Last week, the BSE benchmark saw a sharp decline of 4,091.53 points or 4.98%, and the Nifty slumped by 1,180.8 points or 4.76%. According to exchange data, foreign institutional investors sold equities worth Rs 3,597.82 crore on Friday.
The global oil benchmark Brent crude also saw a rise of 0.44% to reach $73.26 a barrel. On Friday, the 30-share BSE benchmark saw a significant drop of 1,176.46 points or 1.49%, closing at 78,041.59. The Nifty also suffered a loss of 364.20 points or 1.52%, ending at 23,587.50.
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