Share Market Closed: Share market regained its momentum due to fall in crude oil, Sensex rose 291 points, Nifty crossed 24,100.

Mumbai. Due to positive signals from the global market and softening of crude oil prices, there was a strong rise in the domestic stock market on Monday. Indian benchmark indices Sensex and Nifty closed with gains, recovering from the previous session’s huge fall.

BSE’s 30-share benchmark index Sensex closed at 77,094.07 with a gain of 291.17 points, or 0.38 percent. At one time during trading, it jumped by 522.66 points to reach the level of 77,325.56. Similarly, the National Stock Exchange (NSE) index Nifty also managed to close at the level of 24,102.90 points, increasing by 89.80 points or 0.37 percent.

Market got support due to these reasons

According to market analysts, the following reasons were mainly behind today’s rise:

softening of crude oil

Global oil benchmark Brent crude fell 1.66 per cent to $79.23 per barrel, providing a big relief to the market.

US-Iran talks

The first round of ongoing talks between the US and Iran has yielded positive signals, which strengthened the sentiment of global investors. Buying in heavyweight stocks: Buying in heavyweight stocks like Reliance Industries and HDFC Bank helped the index rise. Apart from this, continuous buying by foreign institutional investors (FIIs) also supported the market.

Top Gainers and Losers Shares

Among the major Sensex companies today, shares of Tech Mahindra, Sun Pharma, Reliance Industries, Infosys, Bharat Electronics and Bajaj Finserv saw the highest profits and closed with gains. On the other hand, due to selling pressure, shares of Asian Paints, Titan, Power Grid and Trent declined and closed in the red.

condition of global markets

Talking about Asian markets, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite closed strongly, while Hong Kong’s Hang Seng remained in loss. A mixed trend was seen in European markets. It is noteworthy that due to this, there was a big fall in the stock market in the last session (on Friday), where Sensex closed down by 607 points and Nifty closed down by 154 points.