Indian stock markets advanced for the fifth day in a row on Monday, despite a dismal Asian backdrop and growing domestic wholesale inflation. Investors were hoping for a new round of discussions between Russian and Ukrainian diplomats when this happened.
The BSE Sensex began the day with a little gain of fewer than 100 points, but gained momentum as the day progressed. It eventually closed at 56,486 with a gain of 936 points, or 1.68 percent. The broader Nifty50 index rose 241 points, or 1.45 percent, to settle at 16,871 on the NSE.
Today's biggest gainer on the stock exchanges was Infosys, which surged 4 percent. Apart from that, HDFC Bank, SBI, Axis Bank, Maruti Suzuki, ICICI Bank, Titan, Wipro, and HDFC were the top gainers today, with gains ranging from 2 percent to 3.5 percent. ONGC, Indian Oil Corporation, HUL, Tata Motors, Coal India, HDFC Life, JSW Steel, and Sun Pharma were the largest drags on the downside, with losses ranging from 1 percent to 2 percent.
The broader markets, on the other hand, underperformed their large-cap counterparts by a significant margin. The BSE MidCap and SmallCap indices both gained 0.02 percent and 0.3 percent, respectively.
In Monday's intra-day trade on the BSE, shares of Jubilant FoodWorks fell 14.6 percent to a new One-Year-low of Rs 2,444 per share, after major brokerages downgraded the stock following CEO Pratik Pota's resignation.
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