The stock markets opened the week on a high note with both the Sensex and Nifty 50 hitting new all-time highs before retracing lower. The Nifty 50 is trading at 24,859.60 up 0.100% or 24.75 points with a day range of 24,790.45 to 24,999.75. The BSE Sensex is at 81,417.56 up 0.10% or 84.84 points ranging between 81,162.90 and 81,908.43. Nifty Bank is also performing well up 0.73% at 51,669.85
Nifty 50 Index Daily Chart: TradingView
This positive momentum follows last week’s strong performance where the Sensex gained 1,292 points and the Nifty closed above 24,830. For the entire week the Nifty 50 surged 1.24% or 303 points while the Sensex gained 728 points or 0.90%.
The Q1 FY24-25 earnings season is underway also with 567 out of 4,425 companies reporting so far. The results show a year-on-year revenue growth of 13.67% and a net profit increase of 7.93%. Today, 80 more companies are set to announce their earnings.
Divi’s Labs is leading the pack with a 2.87% gain. The stock opened at 4,804 and reached a high of 4,928.80 during the day. It’s currently trading at 4,928.15 above its previous close of 4,790.60.
Source: NSEIndia
BPCL is also showing impressive performance with a 2.78% increase. Opening at 333.40 the stock touched a high of 338.90. Its current trading price of 337.95 is well above the previous close of 328.80
The engineering giant L&T has seen a solid 2.53% rise. Starting at 3,701.00 it reached 3,784.90 at its peak. Now trading at 3,773.00 up from previous close of 3,679.90, L&T’s performance reflects strength in the infrastructure and construction space.
UltraTech Cement is up 2.21% today. Opening at 11,680.00 it soared to 11,940.00 before reading at 11,931.10 as of writing.
SBI has gained 1.77% today. The stock opened at 866.05 and hit a high of 889.10. Currently trading at 877.70 up from 862.45 at previous close SBI’s performance suggests positive momentum in the banking sector.
IndusInd Bank is up 1.55%. Starting at 1,415.00 it reached 1,444.95 at its highest. Now at 1,425.65 compared to the previous close of 1,403.90 the bank is showing steady gains.
ICICI Bank has risen by 1.47%. Opening at 1,215.15 it touched 1,242.75 during the day. Currently at 1,224.90 up from 1,207.20 at last close ICICI Bank continues the positive trend in banking stocks.
Bajaj Finserv has gained 1.44%. It opened at 1,588.15 and reached 1,611.40 at its peak so far. Now trading at 1,609.25 compared to the previous close of 1,586.45, it’s showing strength in the financial services sector.
ONGC is up 1.01% today. Starting at 333.80 it hit a high of 339.55. Currently at 334.95 and up from 331.60 at last close
Coal India has seen a slight 0.96% increase. Opening at 514.50 it reached 515.70 during the day. Now at 514.75 slightly above its previous close of 509.85, Coal India is showing stability in the mining sector.
