Sensex, Nifty 50 rise for 4th consecutive session; investors earn ₹4 lakh crore— 10 key highlights

Indian stock market extended gains to the fourth consecutive session on Monday, June 9, on across-the-board buying amid largely positive global cues. The Sensex closed 256 points, or 0.31 per cent, higher at 82,445.21, while the Nifty 50 settled at 25,103.20, up 100 points, or 0.40 per cent.

The mid and small-cap segments outperformed as the BSE Midcap and Smallcap indices rose 1.03 per cent and 1.19 per cent, respectively.

The overall market capitalisation of BSE-listed firms rose to ₹455 lakh crore from ₹451 lakh crore in the previous session, making investors richer by about ₹4 lakh crore in a day.

Indian stock market: 10 key highlights from the day

1. Why did the Sensex and Nifty 50 rise for a fourth consecutive session?

In the last four sessions, the Sensex and the Nifty 50 have jumped more than 2 per cent each, and investors have got richer by about ₹12 lakh crore.

The recent rally in the market has followed healthy domestic macro prints, better-than-expected Q4 results and the RBI's bumper 50 bps rate cut.

Positive global cues amid expectations that the US-China and US-India trade deals were near also influenced market sentiment.

"The Indian stock market has been experiencing strength recently, backed by positive economic growth and better-than-expected fourth-quarter results. We could see a positive structure for the indices playing out, considering the liquidity in the capital markets continues to be fairly buoyant and the continuation of steady growth in the Indian economy," Jimeet Modi, founder and CEO of SAMCO Group, told Mint.

2. Top gainers in the Nifty 50 index today

39 stocks ended higher in the Nifty 50 index, out of which Jio Financial Services (up 3.89 per cent), Kotak Mahindra Bank (up 3.25 per cent) and Bajaj Finance (up 2.69 per cent) ended as the top gainers.

3. Top losers in the Nifty pack

Shares of Eternal (down 1.86 per cent), ICICI Bank (down 1.73 per cent) and Titan Company (down 0.73 per cent) closed as the top losers in the index.

4. Sectoral indices today

Barring Nifty Realty (down 0.14 per cent), all sectoral indices ended higher.

Nifty PSU Bank (up 1.52 per cent), Private Bank (up 1.03 per cent), Oil & Gas (up 1.04 per cent) and IT (up 1 per cent) ended as the top gainers.

Nifty Bank and Financial Services indices rose 0.46 per cent and 0.54 per cent, respectively.

5. Most active stocks in terms of volume

Vodafone Idea (63.1 crore shares), Jaiprakash Power Ventures (19.50 crore shares), and Reliance Power (18.8 crore shares) were the most active stocks in terms of volume on the NSE.

6. 12 stocks jump over 15% on NSE

HB Stockholdings, Indef Manufacturing, Airo Lam, Oriental Carbon & Chemicals, Wealth First Portfolio Managers and Somany Ceramics were among the 12 stocks that jumped over 15 per cent on the NSE.

7. Over 130 stocks hit upper circuits, over 50 hit lower circuits

As many as 133 stocks, including Coffee Day Enterprises, Jaiprakash Associates, Somany Ceramics, Capri Global Capital and Reliance Infrastructure, hit their upper circuits in intraday trade on the NSE.

On the other hand, 54 stocks, including Nirman Agri Genetics, Dynamic Services & Security, Power & Instrumentation (Gujarat), Best Agrolife and Grand Continent Hotels, hit their lower circuits.

8. Advance-decline ratio

As many as 2,066 stocks advanced, while 904 declined and 85 remained unchanged on the NSE.

9. Nearly 180 stocks hit their 52-week highs

As many as 178 stocks, including Bajaj Finance, AU Small Finance Bank, HDFC Asset Management Company, InterGlobe Aviation (IndiGo) and SRF, hit their 52-week highs in intraday trade on the BSE.

On the flip side, United Drilling Tools, Uma Exports, Naksh Precious Metals, Gujarat Lease Financing and Axita Cotton were among the 43 stocks that hit their 52-week lows.

10. Nifty 50 technical outlook

Experts believe the Indian stock market could extend gains and the Nifty 50 could target 25,350 mark in days to come.

"The Nifty has finally broken out of its prolonged consolidation on the daily timeframe. Market sentiment appears positive, with the index sustaining well above the crucial 50-day moving average (50DMA)," said Rupak De, Senior Technical Analyst at LKP Securities.

According to De, a golden crossover on the daily chart has been supporting the bullish sentiment. Following the breakout, a rise towards 25,350 looks likely.

"A decisive move above this level could trigger a rally towards 25,700. On the downside, support is placed at 24,850; a breach below this level may lead to a shift in sentiment," said De.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.