Stock Market Surges: Nifty Auto Leads Gains
The Nifty Auto index's rise is attributed to the delay in EU tariff deadline by Trump, boosting hopes for export relief, and a robust domestic rural demand ahead of the monsoon trend, with key companies like M&M and Bajaj Auto leading the gains.
The Nifty Auto index rose by 1% to become the top sectoral gainer, driven by hopes of export relief and robust domestic rural demand ahead of the monsoon trend, with shares of M&M and Bajaj Auto surging up to 2% amidst the rally.
The NSE Nifty 50 closed 148 points higher at 25,001, while the BSE Sensex ended 455.37 points up at 82,176 on Monday. Bajaj Auto, JSW Steel, Mahindra & Mahindra, Trent, and Hindalco Industries were the top gainers, with Bajaj Auto's share price closing at Rs 8,958, JSW Steel at Rs 1,030, and Mahindra & Mahindra at Rs 3,075.
On the other hand, Eternal Ltd, UltraTech Cement, Kotak Mahindra Bank, Power Grid Corp, and Sun Pharmaceutical Industries were the biggest losers. Zomato parent Eternal Ltd was the biggest loser, slumping 5% to close at Rs 226.65. UltraTech Cement closed lower at Rs 11,676, and Sun Pharma fell 0.45% to close at Rs 1,676.10.
The surge in the stock market, particularly in the Nifty Auto index, is a positive sign for the economy, driven by hopes of export relief and robust domestic demand. As the market continues to fluctuate, investors will be closely watching the performance of key sectors and companies.