Stock market today: Nifty50 ends above 24,100; BSE Sensex over 350 points up

Stock market today (AI image)

Stock market today: Benchmark equity indices, the Sensex and Nifty, finished Monday’s session in positive territory, supported by buying in heavyweight stocks and election trends that aligned with market expectations. The BSE Sensex, comprising 30 stocks, advanced 355.90 points, or 0.46 per cent, to close at 77,269.40. During the session, it had surged as much as 997.25 points, or 1.29 per cent, reaching an intraday high of 77,910.75. Meanwhile, the NSE Nifty rose 121.75 points, or 0.51 per cent, to settle at 24,119.30. Among Sensex constituents, gains were led by stocks such as Adani Ports, Hindustan Unilever, Reliance Industries, Larsen & Toubro, Eternal and Maruti. On the other hand, Bharti Airtel, Kotak Mahindra Bank, Tata Consultancy Services and ITC were among the laggards. Market sentiment remained upbeat, aided by favourable election signals from West Bengal and stronger-than-anticipated fourth-quarter earnings, which helped investors look beyond ongoing concerns in the Middle East. However, bouts of profit booking were seen intermittently amid uncertainty related to the US ‘Project Freedom’ initiative aimed at reopening the Strait of Hormuz. Although a clear resolution may take time, optimism around gradual progress persists, with crude oil prices staying below the USD 110 mark offering some near-term relief. Brent crude, the global benchmark, was trading higher by 1.48 per cent at USD 109.8 per barrel. In Asia, markets in South Korea and Hong Kong ended higher, while Japan remained closed due to a holiday. European markets were trading largely in the red, whereas US equities had closed mostly higher on Friday. Supportive domestic triggers, including early trends from key state election results, along with easing geopolitical concerns such as signs of progress in US-Iran discussions, helped temper crude oil prices. Coupled with strong global cues—particularly the continued rally in US technology stocks—this created a favourable risk environment for equities. Stock-specific momentum also contributed to gains, with companies like Maruti Suzuki and Hindustan Unilever advancing on the back of encouraging operational performance. On the institutional front, foreign portfolio investors remained net sellers, offloading equities worth Rs 8,047.86 crore on Thursday, as per exchange data. In contrast, domestic institutional investors were net buyers, purchasing shares worth Rs 3,487.10 crore. Stock markets were shut on Friday on account of Maharashtra Day. In the previous session on Thursday, the Sensex had dropped 582.86 points, or 0.75 per cent, to close at 76,913.50, while the Nifty had declined 180.10 points, or 0.74 per cent, to end at 23,997.55.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)