Stock Market Update: Sensex Gains 454 Points, Nifty Ends Above 23,340 On Monday

The domestic stock market kicked off the week positively, with the Sensex and Nifty closing higher on Monday. Midcap and smallcap stocks attracted buyers, especially in the banking, PSE, and metal sectors. Energy, oil, and gas indices rose, while auto and FMCG indices lagged.

On Monday, the BSE Sensex finished at 77,073.44, up 454.11 points, and the NSE's Nifty 50 increased to 23,344.75, gaining 141.55 points (0.61%). This followed a notable drop on Friday, where the Sensex fell 423.49 points to 76,619.33, and the Nifty decreased by 108.61 points to 23,203.20, supported mainly by Kotak Mahindra Bank and HDFC Bank.

Kotak Mahindra Bank surged 9% post its third-quarter results, while Wipro rose 7%. Bajaj Finance gained 4% after teaming up with Bharti Airtel for a digital financial platform, and United Breweries climbed 6%. NTPC also saw a 3% increase.

On the downside, SBI Life was the poorest performer on Nifty, closing down around 3%. Vodafone Idea jumped 9%, and Kalyan Jewellers rebounded with a 6% rise after three days of losses. Paytm gained 3% following its quarterly results, while Zomato fell 7% after its own announcement.

Indian Hotels dropped 2% due to profit booking, despite strong quarterly results. Can Fin Homes and DCM Shriram benefited from their earnings, while Rallis India, Netweb, and Jio Financial declined. RBL Bank rose 7%, joining IOB, Central Bank of India, Karur Vysya Bank, and MRPL in the gainers' list.