Stock market closes with a strong gains; Sensex Nifty rise
The domestic stock market closed strongly on Monday, the first trading session of the week (October 14). The benchmark of Bombay Stock Exchange closed strongly at the level of 81,973.05 with a gain of 591.69 points at the end of the session. Similarly, the Nifty of the National Stock Exchange also closed at the level of 25127.95 with an increase of 163.7 points. In today’s session, Wipro, Tech Mahindra, HDFC Life Insurance, L&T and HDFC Bank emerged as the most profitable stocks in Nifty 50. While ONGC, Maruti Suzuki, Tata Steel, Bajaj Finance and UltraTech Cement emerged as the biggest loss-making stocks in Nifty 50.
These reasons caused turmoil in the market
According to reports, except metal and media, all other sectoral indices closed in the green, with Information Technology (IT), Bank, Realty registering a gain of 1 percent each. The BSE midcap index rose 0.3 per cent and the smallcap index was flat. The Sensex and Nifty edged higher on Monday as investors focused on earnings reports from Reliance Industries and HCL Tech. Also, domestic inflation data is the centre of attention for signs of a possible interest rate cut.
These stocks hit new one-year highs in intraday trade
249 stocks, including HCL Tech, Tech Mahindra, Persistent Systems, Trent and Divi’s Labs, hit their new one-year highs in intraday trade on the BSE on Monday. According to Livemint, Coforge, Dixon Technologies, Gujarat Fluorochemicals, Ipca Laboratories, Mankind Pharma, Oberoi Realty, Page Industries, National Aluminium Company and Glenmark Pharmaceuticals also hit their 52-week highs in intraday trade.
Wholesale inflation rate on the rise
On a monthly basis, the wholesale inflation rate in September 2024 increased from 1.31 percent to 1.84 percent. The wholesale inflation rate of food increased from 3.26 percent to 9.47 percent. Similarly, the inflation rate of vegetables increased from -10.01 percent to 48.73 percent. The wholesale inflation of potatoes increased from 77.96 percent to 78.13 percent.
