Developments on the stock market include: Sensex Up 150 Points, Nifty Over 18,350, and Tata Motors Up 4%
Sensex Today: Monday morning saw a solid start for the equity benchmark indexes Sensex and Nifty, but overall sentiment was restrained because of growing concerns over a potential US debt default. The NSE Nifty50 nudged up 45 points to 18,360, while the BSE Sensex increased by 160 points to 62,200.
The top Sensex gainers were Tata Motors, Power Grid, Nestle, M&M, Ultratech Cement, and Infosys, while the top Nifty gainers were Bajaj Auto, Eicher Motors, and Nestle.
On the other hand, the top frontline losers included IndusInd Bank, Tata Steel, Sun Pharmaceutical, Cipla, and Adani Enterprises.
Wider markets started off slowly. Compared to a slight increase in the BSE Sensex, the BSE MidCap and SmallCap indices were almost unchanged.
With a net profit of Rs 5,408 crore in Q4FY23 compared to a net loss of Rs 1,033 crore the previous year, Tata Motors saw a gain of more than 3.5%.
All Asian markets were trading in the red this morning, with the exception of the Nikkei, which was up 0.55 percent. A 0.5% to 1% decline was seen in the Hang Seng, Shanghai Composite, Shenzhen Component, Strait Times, and Kospi.
The consumer sentiment index dropped to a six-month low of 57.7 on Friday, which contributed to a 0.16 percent decrease in the S&P 500, a 0.03 percent decline in the Dow, and a 0.35 percent decline in the Nasdaq.