Stock Market: On the last Monday of Shravan, business has started with a boom in the Indian stock market. Both BSE Sensex and NSE Nifty-50 opened in the green. Sensex surged over 200 points within minutes of market opening, while Nifty crossed the 24,300 level.
The Sensex opened up 88 points at 77,629. After that, the Sensex rose 235 points to 77,776 as the buying increased.
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The Nifty-50 also opened up 33 points at 24,285. It then increased by 57 points and reached the level of 24,310.
Infosys, Tata Steel and HCL Tech rose
Among the Sensex stocks, Infosys, Tata Steel and HCL Technologies were among the top gainers. Infosys gained 1.60 percent, Tata Steel gained 1.18 percent and HCL Tech gained 1 percent.
GIFT Nifty gave a positive signal
GIFT Nifty was trading around the 24,329.50 level before the Indian market opened. It was around 43.50 points above the previous closing price of Nifty Futures. Because of this, there were signs of a bullish start in the Indian stock market.
Mixed trends in Asian markets
Asian markets saw mixed business. The MSCI Asia-Pacific index was down 0.1 percent. South Korea’s KOSPI was down 1.66 percent. Japan’s Nikkei 225 also fell 0.49 percent, while the TOPIX gained 0.16 percent. Hang Seng futures were also down 0.5 percent.
Fall in crude oil prices
Crude oil prices fell by more than 1 percent on Monday. Investors booked profits ahead of the announcement of possible new US sanctions on Iran.
Brent crude futures fell 1.22 dollars or 1.29 percent to 93.17 dollars per barrel. While US West Texas Intermediate (WTI) crude was down 1.20 dollars or 1.38 percent to 85.86 dollars per barrel.
Gold reached a three-month high
On the other hand, there was a rise in gold prices. Spot gold rose 0.7 percent to $4,636.34 an ounce. This was the highest level since May 15. American Gold Futures also rose 0.3 percent to $4,694.80.
