The equity market witnessed a strong rally in early trade on Monday, marking a historic milestone as the BSE Sensex surpassed the 70,000 level for the first time. The Sensex opened at 70,024.52, registering a significant surge of 201.43 points, while the Nifty experienced a notable jump of 42.15 points, reaching 21,011.55.
Leading the gainers were stocks such as IndusInd Bank, ONGC, Coal India, HCL Technologies, and UPL. Conversely, Dr Reddy, Asian Paints, CIPLA, Sun Pharma, and Maruti found themselves among the laggards.
In the global context, Asian shares displayed a mixed trend on Monday, following Wall Street’s attainment of a 20-month high. Investors are anticipating a crucial week that includes key U.S. inflation data and the Federal Reserve’s final rate decision of the year. U.S. futures showed a decline, while oil prices demonstrated a rebound to recover some of the substantial losses observed in recent months.
Hong Kong’s Hang Seng experienced a 2% decline, settling at 16,012.42, while the Shanghai Composite slipped by 0.6%, reaching 2,952.57.
