Market opens strong on Monday: Sensex surges, Nifty gains

New Delhi [India], August 7 (ANI): The Indian stock market witnessed a strong start to the trading week on Monday, as investors and traders were met with a green opening.

The benchmark index, Sensex, showcased an impressive surge, gaining 167.31 points and settling at 65,888.56. Following suit, the Nifty also experienced a positive trajectory, gaining 20.00 points to stand at 19,537.00.

The overall market sentiment was marked by a positive breadth, with 39 shares advancing, 11 shares declining and 1 share remaining unchanged.

Among the Nifty 50 firms, Mahindra & Mahindra (M&M), Hindalco Industries, Grasim Industries, Coal India, and NTPC emerged as the top gainers, contributing to the market’s upward movement. Conversely, Cipla, ITC, Kotak Mahindra Bank, Hindustan Unilever, and Asian Paints were among the top losers at the time of writing this report.

The bullish momentum in the market was attributed to the majority of fresh buying that occurred on the preceding Friday, which helped Indian stock indices recover slightly from the intense selling pressure experienced over the previous two to three sessions.

As investors closely monitor the market’s dynamic shifts, analysts expect further movements to be influenced by global economic trends, corporate earnings, and other macroeconomic factors.