On Monday, the BSE Sensex witnessed a significant surge, gaining over 1000 points due to increased buying in heavyweight stocks. The BSE Sensex is currently trading at 71,799.42 points, reflecting a rise of 1098.75 points or 1.55%.
The best performers in the market include oil and gas stocks, with ONGC experiencing a 7% increase, and Reliance Industries marking a 4% rise. Hindustan Petroleum is up by 4%, while BPCL shows a 3% increase. In the energy sector, Coal India has gained 3%, and Castrol is up by 4%.
Infrastructure stocks are also on the rise, with IRB seeing a 13% increase, NBCC up by 8%, and NCC showing a 7% rise.
Adani stocks are performing well in the market, with Adani Power, Adani Ports, and Adani Energy all experiencing a 3% increase.
Among the Sensex stocks, Reliance is the top gainer, followed by L&T and Powergrid, both showing a 3% increase.
The market is anticipating two crucial events this week: the interim Budget and the Fed meeting on the rate decision. Analysts believe that these events are unlikely to have a significant impact on the market. The Budget is expected to be a vote on account without major announcements, and regarding the Fed decision, no rate cut is expected, but the commentary will be closely watched.
The ongoing turbulence in the Red Sea is emerging as a serious issue, leading to a spike in Brent crude to $83. This development is being closely monitored by market participants.
(With Agency Inputs)
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