Sensex jumps over 400 points, and the Nifty trades beyond 16,150

Monday’s opening trades saw Indian equities indices trading higher as they followed the lead of their Asian counterparts. 

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Monday’s opening trades saw Indian equities indices trading higher as they followed the lead of their Asian counterparts.

Trends on the Singapore Exchange’s Nifty Futures (SGX Nifty) showed that the domestic indices were off to a good start.

After Wall Street saw a much-needed rebound, Asian markets went higher. Investors, however, continued to exercise caution in response to central banks’ aggressive interest rate raise decisions.

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At home, the broad NSE Nifty advanced 102 points or 0.64 percent to trade at 16,151, while the 30-share BSE Sensex rose 427 points or 0.79 percent to 54,188 in the early session.

As the Nifty Midcap 100 increased by 0.79 percent and the small-cap index increased by 1.01 percent, mid- and small-cap shares were trading strongly.

The National Stock Exchange’s 15 sector indexes were all trading in positive territory. The NSE platform was outperformed by the sub-indices Nifty IT and Nifty Metal, which increased by as much as 1.75 and 1.43 percent, respectively.

The top Nifty gainer on a stock-by-stock basis was Hindalco, whose share price climbed 2.71 percent to 360.05. Among the winners were L&T, Tech Mahindra, Sun Pharma, and Infosys.

1,123 equities on the BSE were rising while 355 were falling, contributing to a positive total market breadth.

As measured by the 30-share BSE index, the top gainers included Infosys, TechM, Sun Pharma, L&T, IndusInd Bank, Wipro, Tata Steel, UltraTech Cement, Bajaj Finserv, ICICI Bank, Titan, and TCS.

The largest domestic financial investor and insurer in the nation, Life Insurance Corporation of India (LIC), saw a 0.17 percent increase in share price to trade at 709.75.

M&M and the HDFC twins (HDFC and HDFC Bank) were trading in the red, though.

The Nifty gained 111 points or 0.69 percent higher to end the day at 16,049, while the Sensex increased 345 points or 0.65% to close the day at 53,761.