Indian Stock Markets Shine as Global Trends Favorable for Third Consecutive Day

Indian Stock Markets Shine as Global Trends Favorable for Third Consecutive Day

Ira Singh
06 Nov’23

The Indian equity benchmark indices continued to rally for the third straight session on Monday amid favourable trends in global markets.

At close, the Sensex was up 594.91 points or 0.92 percent at 64,958.69, and the Nifty was up 181.15 points or 0.94 percent at 19,411.75. About 2378 shares advanced, 1285 shares declined, and 164 shares unchanged.

Stocks and Sectors

Divis Laboratories, Hero MotoCorp, Eicher Motors, Larsen & Toubro and Axis Bank were the top gainers on the Nifty, while losers included SBI, HUL, Tata Motors, Cipla and Titan Company.

On the sectoral front,except PSU Bank (down 1 percent), all other indices ended in the green with pharma, capital goods, metal, oil & gas, power and realty up 1 percent each. BSE Midcap and Smallcap indices rose 1 percent each.

On 06 Nov’23,the Indian rupee appreciated 5 paise to close at 83.15 against the US dollar in early trade on Monday, tracking positive domestic equities as risk-on sentiments prevailed in the market.

Forex traders said the rupee rose after the American currency dropped from its elevated levels, following slower- than-expected US job growth in October.

Experts Take:
Market experts have recommended six stocks to buy for Monday – Birlasoft, HAL, RBL Bank, HDFC Life, IITL and Shriram Properties.