Sensex rallies 436 pts, Nifty rises to 18,185; IndusInd Bank gains nearly 5%, Adani stocks fall

Domestic equities soared in the opening trade on Monday, after a sharp rally in US markets on Friday. BSE benchmark Sensex gained 279.57 points, or 0.46 per cent to open at 61,333.86, while broader NSE Nifty50 climbed 63.40 points, or 0.35 per cent at 18,132.40.

By 9.32 am, Sensex gained 436.49 points, or 0.71 per cent to trade near 61,490.78, while, Nifty50 was up 115.80 points, or 0.64 per cent to trade near 18,184.80.

IndusInd Bank was the biggest gainer in the opening trade, as the private lender’s stock gained 4.89 per cent on BSE. HDFC twins — Housing Development Finance Corporation (HDFC) and HDFC Bank — gained 0.90 per cent each, after a sharp decline in their stocks on Friday.

Britannia, Hindalco, Tata Motors, Kotak Bank, PowerGrid, and Bajaj twins — Bajaj Finserv and Bajaj Finance — were also among the top gainers in the opening trade today.

On the other hand, Adani Total Gas fell over 4 per cent, and Adani Transmission hit the lower price band as it fell 5 per cent after reports said MSCI will mark down the free float of these two Adani group companies. Adani Enterprises Ltd (AEL) was trading 1.84 per cent down in the opening trade.

Infosys, AEL, Coal India, Sun Pharma, Apollo Hospitals, and Asian Paints were the top losers at this hour.

Meanwhile, Paytm-owner One97Communications gained 3.35 per cent in the opening trade after the fintech firm’s consolidated net loss narrowed to Rs 168.4 crore in the March quarter, as compared to a loss of Rs 761.4 crore in Q4FY22.

Broader markets also extended gaining rally as Nifty Microcap 250 jumped 0.65 per cent, while, Nifty Midcap Select rose 0.61 per cent.

Sectorally, the Nifty realty climbed 0.93 per cent, the FMCG index gained 0.92 per cent, the auto index jumped 0.85 per cent, and the Nifty Bank rose 0.69 per cent.