Closing Bell: Sensex reclaims 60000, Nifty ends above 17900
5paisa Research Team
1st November 2021 - 04:40 pm
Indian market made a strong comeback on the first day of the week and month after three days of losses, helped by buying across sectors.
Domestic equity indices snapped the three-day losing streak on Monday, November 1 due to broad-based buying interest across sectors, as investor sentiment got a boost from robust macro-economic data points. The reason for a reversal in the bearish trend is due to strong Goods and Services Tax numbers, while factory activity expanded at its quickest pace in eight months in October. During today's trading session, the Sensex rose as much as 913 points and the Nifty 50 index touched an intraday high of 17,954.10.
At the closing bell on November 1, the Sensex was up 831.53 points or 1.40% at 60,138.46, and the Nifty was up 258 points or 1.46% at 17,929.70. On market depth, about 2099 shares have advanced, 1129 shares declined, and 186 shares are unchanged.
IndusInd Bank, Hindalco Industries, HCL Technologies, Tata Steel, Dr Reddy's and SBI were among the major BSE gainers. Losers of the day were Bajaj Finserv, M&M and Nestle India.
On the sectoral front, all the sectoral indices ended in the green with metal, IT and realty indices up 2-3%. In the broader markets, BSE midcap and smallcap indices rose over 1% each.
On the performance, the country's economic activity picked up pace in October after the government collected Rs 1.30 lakh crore in Goods and Services Tax (GST), the second-highest collection ever since the introduction of GST.
Also, the Manufacturing Purchasing Managers' Index, compiled by IHS Markit, jumped to 55.9 in October from September's 53.7, the highest since February, remaining above the 50-level, separating growth from contraction for a fourth straight month.
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Tanushree Jaiswal
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