The NSE Nifty 50 index rose 0.85% to 15,832.05, while the S&P BSE Sensex rose 0.82% to 53,161.28, both indicators gaining a third straight session.”While the change in mood is a big one, hope may remain a few times before the market shifts amid concerns about the country’s slowdown due to inflation and continued inflation,” said Shrikant Chouhan, head of the organization equity research (sales) at Kotak Securities.
Concerns about inflation and policy have lowered the index to almost 4.5% each month, which puts them at risk for their worst month since the March 2020 epidemic.
Indian stocks send first three-thirds of the profits
On Monday, Nifty IT was the lowest-performing index in Mumbai, jumping 2.3% and reaching the highest since June 10, which boosted Infosys by 2.8%.The Nifty Metal index, which has fallen sharply this month, has risen 1.5%.
Welspun Corp fell 4.5% after a steel producer claimed to have received orders worth six billion rupees. Shares of the two-wheeler company Bajaj Auto lost some of its current profits, earning 1.3% more, as analysts say its announcement of a $ 25 billion ($ 319.23 million) open market announcement has disappointed investors.
Aurobindo Pharma dropped by 1% after a drug manufacturer claimed to have received a letter of warning from the Indian market regulator for non-compliance with disclosure laws regarding U.S. audits. Food and Drug Administration in its unit Zomato catering company declined 6.6%, after a 3.1% increase in pre-trade, following an agreement to buy Blinkit which begins to deliver groceries at $ 44.47 billion ($ 567.94 million).
