Falling trend in the stock market on the first day of the week

[ad_1]

On the first day of the new week, there was an increase in the Indian stock markets. The markets also got support from the global markets. Along with this, there was a buying position in the shares of information technology, pharmaceuticals, metal companies at home. On Monday, the BSE Sensex closed at 61,964, up 234 points. Similarly, NSE’s Nifty reached 18,314 with an improvement of 111 points.

Top Gainers (NSE)

company Closing Price (Rs.) increase (%)
Adani Enterprises 2326.10 18.92
Adani Ports 729.70 6.05
Devi’s Laboratory 3265.00 5.38
Apollo Hospitals 4605.30 3.56
Tech Mahindra 1104.45 3.01

If you look at the speed of the market during the day, there was some softening in the beginning. Later, both the indices showed improvement due to pick up in buying momentum. There was heavy buying in shares of automobile, pharma, power, metal companies. However, selling in banks and financial companies limited the rally.

Top Losers (NSE)

company Closing Price (Rs.) Reduce (%)
Nestle India 21494.80 0.90
Hero MotoCorp 2692.15 0.77
Incher Motors 3545.45 0.71
axis Bank 917.55 0.70
Coal India 238.70 0.50

Vinod Nair, head of research at Geojit Financial, said lower-level buying and demand is likely to pick up in IT stocks after poor Q4 results. Apart from this, all eyes are on whether there will be a ceiling on interest rates in America or not. There will be a meeting on this in America next Wednesday, after which the direction of the market will be decided.