Mumbai, July 1: Despite continuous downpour in the financial capital and slowing down of movement of people, Indian equity benchmarks opened higher in Monday’s trade. With this, a break in the two-day fall came into place and the domestic market gained momentum. The Sensex index rose by 254.83 points in early deals to 39,649.47, and the NSE Nifty benchmark climbed to 11,860.85, up 72 points from the previous close.
Among the major gainers for week's first day was Bajaj Auto, which gained 1.39% at 9:57 am. It is to be known that Bajaj Auto Ltd. sold a 4.04 lakh units last month, which is considered as little change in June, as per the stock market filing. Due to the sudden development, the shares of Bajaj auto roses much as 2.4 percent to Rs 2,893.40. Sensex, Nifty Flat Ahead of US-China Meet
On the contrary, the shares for Adani Power fluctuated between gains and losses to trade 0.19 percent higher at Rs 51.45, while Eros International extended fall for the 19th consecutive trading session. The stock of Eros hit an upper circuit of 5 percent to trade at a record low at Rs 17.20, which is their longest ever losing mark.
Other losers on the first day of the week include Reliance Home Finance, IOC, BPCL, Titan, UltraTech Cement and Gail. While HDFC twins, ICICI Bank, Infosys, Axis Bank and ITC emerged as the market gainers. Even SpiceJet shares surged as much as 3.08% while IndiGo went up 1.49 per cent in intraday trade.
The positive mood of the surge in the stock market is a good indication for the investors as Finance Minister Nirmala Sitharaman is all set to table the Union Budget in Parliament on July 5.