Stock Market Today: Sensex Rallies Over 1,000 Points, Nifty Reaches Fresh Highs Over 20,500

On the 30-share Sensex platform, all shares except Maruti Suzuki were trading in green.. Some of the early gainers included ICICI, SBI, L&T, NTPC, and M&M.

The two key equity benchmarks, Sensex and Nifty, on Monday, hit new lifetime highs as they opened trading after the Bharatiya Janata Party (BJP) won decisively in the Assembly elections a day earlier. At 9:49 AM, the BSE Sensex rallied more than 1,000 points to touch 68,481.45, while the NSE Nifty moved beyond the 20,500 mark and climbed over 300 points to stand at 20,568.30.

On the 30-share Sensex platform, all shares except one were trading in green.. Some of the early gainers included ICICI, SBI, L&T, NTPC, and M&M. While, Maruti Suzuki emerged as the sole loser in morning trade. 

In the broader markets, the Nifty 100 and Nifty 200 led the gains with an increase of 1.48 per cent and 1.40 per cent respectively, surrounded by all the indices trading favourably.

Sectorally, Nifty Media remained the only laggard on the list with a loss of 0.53 per cent. Among the gainers, Nifty Oil & Gas and Bank led the indices with increases of 2.15 per cent and 2.11 per cent respectively. 

On Sunday, the Bharatiya Janata Party emerged as the winner in the Assembly Elections in Rajasthan, Chhattisgarh, and Madhya Pradesh with a decisive margin. 

Among specific stocks on the NSE, the Adani Group stocks gained massively in morning trade. The Adani Enterprise stock soared over 6 per cent, while the Adani Ports shares climbed over 4.67 per cent in the morning. Coal India, L&T, and ICICI Bank remained among other major gainers on the index.

In the previous session on Friday, the two key equity benchmarks, Sensex and Nifty, on Friday, ended trading on a high note, boosted by the GDP data for the second quarter, released a day earlier, which beat analysts’ estimates. The BSE Sensex rallied almost 500 points to close at 67,481.19, while the NSE Nifty50 continued its streak above the 20,000 mark for the third consecutive trading session. The Nifty50 reached a fresh record high and touched 20,291.55, before closing at 20,267.90, up by 134.75 points.

The domestic rupee appreciated 6 paise to 83.27 against the US dollar on Monday, owing to the positive sentiment from the equity markets and foreign fund inflows. At the interbank foreign exchange, the rupee opened at 83.28 against the greenback and hit a low of 83.30 and a high of 83.27 against the American currency. The domestic unit closed at 83.33 against the US dollar in previous trading session on Friday. 

Brent crude futures, the global oil benchmark, dipped 0.53 per cent to $78.46 per barrel. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,589.61 crore on Friday, official data from the exchange revealed.