• Source:JND
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Stock Market Today: Following billish trend in US markets, a steep decline in crude oil prices, and ongoing inflows of foreign funds, the equity benchmark indices Sensex and Nifty rose sharply in early trading on Monday. In early trading, the 30-share BSE benchmark gauge increased 386.95 points to 80,888.94. At 24,460.75, the NSE Nifty jumped 114.05 points.

Among the Sensex companies that saw significant gains were Adani Ports, Asian Paints, Bajaj Finserv, Tata Consultancy Services, Infosys, HDFC Bank, Power Grid, HCL Tech, Titan, and Tata Motors.

After the company announced a 7.57 percent drop in consolidated net profit to Rs 4,933 crore for the March quarter of FY25, mostly as a result of increased stress in the microlending book, Kotak Mahindra Bank fell by almost 6%.

State Bank of India, Larsen & Toubro, NTPC, and Nestle were also the laggards among the 30-share pack.

After reporting an 8.34% drop in consolidated net profit to Rs 19,600 crore for the January-March quarter from Rs 21,384 crore a year earlier due to a decline in net interest margins, State Bank of India saw a nearly 2% decline in value.

According to exchange data, foreign institutional investors (FIIs) purchased stocks on Friday for a total of Rs 2,769.81 crore.

Due to a combination of strong domestic fundamentals and favorable international cues, foreign investors turned net buyers for the first time in three months, injecting Rs 4,223 crore into the nation's equity market in April.

After consecutive net outflows of Rs 3,973 crore in March, Rs 34,574 crore in February, and Rs 78,027 crore in January, the foreign capital inflow occurred last month.

The Kospi index for South Korea rose in the Asian market. Due to holidays, markets in China, Hong Kong, and Japan were closed. Friday saw a sharp increase in US markets. Brent crude, a global oil benchmark, fell 3.65% to USD 59.05 per barrel.

At 80,501.99 on Friday, the 30-share BSE benchmark gauge ended the day 259.75 points, or 0.32 percent, higher. The Nifty managed to gain just 12.50 points, or 0.05 percent, to close at 24,346.70.

Also Read: FPIs Infuse Rs 4,223 Crore In April In Equity Market; Returns As Net Buyers First Time In Three Months