Indian stock markets started the week with a solid performance on Monday. Both the BSE Sensex and NSE Nifty posted notable gains. The Sensex rose by 454.11 points, or 0.59%, closing at 77,073.44. The Nifty gained 141.55 points, or 0.61%, to end at 23,344.75. A surge in financial stocks, especially Kotak Mahindra Bank, was the key driver behind the rally. Kotak Mahindra’s Jump Kotak Mahindra Bank led the charge, posting an impressive 9.15% jump. The bank’s stock closed at ₹1,919.60, boosted by stronger-than-expected quarterly results. Investors responded positively to the […]
Kotak Bank Powers Market Rally, Sensex Hits New High
Indian stock markets started the week with a solid performance on Monday. Both the BSE Sensex and NSE Nifty posted notable gains. The Sensex rose by 454.11 points, or 0.59%, closing at 77,073.44. The Nifty gained 141.55 points, or 0.61%, to end at 23,344.75. A surge in financial stocks, especially Kotak Mahindra Bank, was the key driver behind the rally.
Kotak Mahindra Bank led the charge, posting an impressive 9.15% jump. The bank’s stock closed at ₹1,919.60, boosted by stronger-than-expected quarterly results. Investors responded positively to the bank’s performance, marking it as the top performer among Sensex stocks.
Bajaj Finance and Bajaj Finserv also contributed to the financial sector’s strong showing. Bajaj Finance saw a 3.58% rise, closing at ₹7,437.70. Bajaj Finserv, too, gained 3.18%, reflecting the robust growth in the sector.
State-owned NTPC saw its shares climb 2.96%, while State Bank of India (SBI) followed with a 1.96% increase, closing at ₹779.05.
On the flip side, some stocks in the market failed to maintain momentum. Zomato led the list of losers, dropping 3.14% to ₹240.95. This marked the end of a recent upward streak for the food delivery giant.
Adani Ports slipped 1.23%, closing at ₹1,149.05. Tata Consultancy Services (TCS) also faced a decline of 1.18%. Mahindra & Mahindra and Maruti Suzuki saw smaller declines, losing 0.99% and 0.80%, respectively.
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The financial sector was the star performer on Monday, led by Kotak Mahindra Bank’s stellar results. Other financial giants, including Bajaj Finance and Bajaj Finserv, played a key role in pushing the broader market higher. This helped offset losses in some other sectors.
In contrast, IT stocks faced headwinds. TCS, one of the largest companies in India, saw a decline. The automobile sector also struggled, with Maruti Suzuki and Mahindra & Mahindra facing modest losses.
The Indian stock market had a strong start to the week, driven by gains in the financial sector. Kotak Mahindra Bank’s standout performance was the key highlight. While some stocks in other sectors struggled, the overall sentiment remained positive. Investors are keeping a close eye on upcoming results and broader economic indicators for further cues.
The market appears to be in a resilient phase, especially in the financial space, which continues to attract investor interest.
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