Sensex and Nifty today: Market Watch: Momentum could shift back to midcap stocks

Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.

Taking their winning streak to the third straight trading session, benchmark equity indices closed higher on Monday. Buying interest was seen across all sectors. The 30-share Sensex ended 787 points higher at 60,747, while its broader peer Nifty 50 ended above the 18,000 level. Among Sensex stocks, UltraTech Cement, M&M, L&T, HDFC, Sun Pharma and HDFC Bank were the top gainers in today’s trading session, rising around 2.5-4 per cent. Bajaj Finserv, Bajaj Finance, Asian Paints, Infosys, Bharti Airtel and Tech Mahindra also settled higher.

Sectorally, the Nifty Consumer Durables rose 1.48 per cent and Nifty Auto surged 1.45 per cent. Nifty IT and Nifty Financial Services also closed higher. In the broader market, Nifty Midcap50 advanced 1.27 per cent and Smallcap50 rose 0.33 per cent.

Earlier in Asian markets, Japan’s Nikkei 225 and South Korea’s Kospi surged 1.78 per cent and 1.11 per cent, respectively, while China’s Shanghai Composite fell 0.77 per cent. The Indian rupee fell for the 10th straight month, down 1.77 per cent in October. The rupee weakened 0.4 per cent against the dollar, and quoted at 82.78 per dollar. The Brent crude January futures fell 1.18 per cent to $92.66 per barrel.

The market breadth was skewed in favour of bulls. About 1,851 gained, 1,695 stocks declined and 173 remained unchanged. The market capitalisation of all listed companies on the BSE increased by Rs 3.06 lakh crore to Rs 279.94 lakh crore.

Mr Ruchit Jain of said after some decent consolidation, the midcap index witnessed a breakout and hence the momentum could shift back towards some of the midcap counters.

That’s all for now. Do check out for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.

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