From mint · Asit Manohar · · 2m
Sensex up 472 points, Nifty Bank up 263 points
HDFC Bank, RIL, ITC, Bajaj Finance shares gain as market rallies.
In brief
HDFC Bank, RIL, ITC, Bajaj Finance shares gain as market rallies. The BSE Sensex rose 472 points to 72,382 while the Bank Nifty gained 263 points to 54,714 on Monday. Originally reported by mint.
Market opens higher
The BSE Sensex gained 472 points to 72,382 while the Bank Nifty index finished 263 points higher at 54,714.
Key gainers
ITC, HDFC Bank, Reliance Industries Ltd, Bajaj Finance, PC Jewellers, PNB, and Shriram Finance shares rose in early trading.
Major losers
Avenue Supermarts, TVS Motor Company, Apollo Hospitals, Infosys, and Max Healthcare were among the biggest decliners.
Volume shockers
5Paisa Capital, Manali Petroleum, V2 Retail, GSPL Transmission, Shipping Corporation of India, Jaykay Enterprises, Noartis India, and United Polyfab Gujarat saw unusual trading volumes.
ITC share analysis
ITC shares rose after expectations of better Q2 results due to improved margins from soft tobacco prices.
HDFC Bank outlook
Jefferies India predicts 22% upside for HDFC Bank shares following the appointment of Anup Bagchi as new CEO and MD.
Bajaj Finance target
Jefferies India sets a ₹ 1,280 price target for Bajaj Finance shares, representing 35% upside from current levels.
Molbio Diagnostics
Molbio Diagnostics shares rose 57% against IPO price after a strong listing performance.
RBI MPC meeting
Market expects at least 25 basis points rate hike from RBI's MPC meeting, which could limit the relief rally.
IT stocks outlook
Foreign investors are betting on Indian IT stocks following Accenture's better-than-expected results.
Nifty FPI heatmap
The Nifty FPI heatmap shows 5 IT stocks, Mphasis, Coforge, Infosys, TCS, and Persistent Systems, are favored by foreign investors.
OMC stocks
OMC stocks are expected to benefit from the government's recent ₹ 5 per litre petrol price hike.
Market sentiment
Softer-than-expected U.S. employment data has eased concerns over further Federal Reserve tightening.
Crude oil prices
Crude oil prices remain volatile with WTI trading around $90 a barrel and Brent near $102.
RBI's role
The RBI's assessment of inflation risks and policy stance will be critical for investors ahead of the October 7 MPC meeting.
Market reaction
The market is expected to sustain gains as global risk appetite improves but domestic headwinds remain.
The takeaway
The BSE Sensex rose 472 points to 72,382 while the Bank Nifty gained 263 points to 54,714 on Monday.
