Sensex gains 240 pts, Nifty settles above 19500;Coal India jumps 5%, Wipro 4%

Sensex gains 240 pts, Nifty settles above 19500;Coal India jumps 5%, Wipro 4%

Ira Singh
4 Sep’23

The Indian equity market indices traded higher on Monday in line with firm trend in global markets and encouraging domestic macroeconomic data. Fresh foreign fund inflows also added to the optimistic trend in the domestic equity market.

At close, the Sensex was up 240.98 points or 0.37 percent at 65,628.14, and the Nifty was up 93.50 points or 0.48 percent at 19,528.80.

Stocks and Sectors

Coal India, Wipro, HCL Technologies, UltraTech Cement and Tata Steel were top gainers on the Nifty, while losers included Axis Bank, M&M, Nestle India, ITC and Asian Paints.

On the sectoral front,all indices ended in the green with power, metal, auto, realty, oil & gas and PSU Bank up between 1 and 2.8 percent.

The broader indices, BSE midcap and smallcap, outperformed the benchmark and rose nearly a percent each to touch fresh 52-week highs.

On 4 Sep’23,the Indian rupee falls 11 paise to close at 82.73 against the U.S. dollar weighed down by a surge in crude oil prices and strength of the American currency in the overseas market.

Experts Take:
Market experts have recommended six stocks to buy for Monday- IndusInd Bank, M&M, Balaji Telefilms, United Spirits, Ruchira Papers and Latent View Analytics.