Mumbai, 25 May. The Indian stock market looked green on Monday due to softening of crude oil prices amid rumors of an agreement between the US and Iran and both the benchmark indices closed with strong gains. BSE Sensex crossed 76 thousand with a gain of 1074 points, while NSE Nifty rose by 312 points and reached above 24000 again after two weeks.
It is noteworthy that due to improvement in sentiment regarding US-Iran talks, softening of crude oil prices led to rise in global markets, which had a positive impact on the domestic market.
Sensex closed at 76,488.96 points, up 1.42 percent
Bombay Stock Exchange (BSE)’s benchmark index Sensex based on 30 shares closed at 76,488.96 points, rising 1,073.61 points or 1.42 percent. At one time during trading, it had increased by 1,143.72 points or 1.51 percent to reach 76,559.07 points. Among the companies associated with Sensex, shares of 26 remained in the green mark while shares of four remained weak.
Nifty increased by 312.40 points and closed at 24,031.70 points.
At the same time, Nifty, a sensitive index based on 50 shares of National Stock Exchange (NSE), increased by 312.40 points or 1.32 percent and stopped at 24,031.70 points. Among Nifty related companies, 40 stocks gained strength and 10 declined. If we look at the broader market, BSE Smallcap Select index related to small companies rose by 1.18 percent while Midcap index related to medium companies gained 0.92 percent.
Bajaj Finance stocks rose the most by 2.80 percent
Among the companies included in the Sensex group, Bajaj Finance’s stock rose the most by 2.80 percent. Shares of Larsen & Toubro, HDFC Bank, Eternal, Bajaj Finserv and Kotak Mahindra Bank were also major gainers. On the other hand, shares of Infosys, Tata Consultancy Services, Sun Pharma and Hindustan Unilever declined.
Brent crude below $100 a barrel for the first time in more than two weeks
Global oil benchmark Brent crude fell 5.52 per cent to $97.82 a barrel, falling below the $100 a barrel level for the first time in more than two weeks. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,440.47 crore on Friday.
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