Indian stock market benchmarks, the Sensex and the Nifty 50, extended gains to the fifth consecutive session on Monday, April 21, on across-the-board buying amid mixed global cues.
The Sensex closed the day at 79,408.50, up 855 points, or 1.09 per cent, while the Nifty 50 ended at 24,125.55, up 274 points, or 1.15 per cent.
The BSE Midcap and Smallcap indices jumped 2.20 per cent and 1.67 per cent, respectively.
Robust gains in the Indian stock market made investors richer by about ₹6 lakh crore in a single session as the overall market capitalisation of BSE-listed firms jumped to nearly ₹426 lakh crore from ₹420 lakh crore in the previous session.
In these five sessions of gains, the Sensex has jumped 5,561 points, or 7.5 per cent, while the Nifty 50 has gained 1,726 points, or 7.7 per cent. Investors have become richer by about ₹32 lakh crore in these five sessions.
Indian stock market: 10 key highlights
Let’s take a look at 10 key highlights of the stock market today:
1. Why did the Indian stock market rise for the fifth consecutive session?
The Indian stock market’s healthy growth outlook, largely stable Q4 earnings, and fresh buying by foreign portfolio investors (FPIs) are the major factors driving it higher.
VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted that even though the global economic scenario is mired in uncertainty, India is the only large economy that can grow at 6 per cent even in a slowing global economy. This, along with the declining dollar, can potentially attract more FPI inflows into India in the short run.
“The possibility of India striking a deal with the US in the next few months is perceived by the market as positive. Viewed from the short-term market construct perspective, it is an advantage for India,” said Vijayakumar.
