New Delhi: The Indian stock market began the new week on a strong note, supported by positive global trends. The Sensex jumped more than 250 points, while the Nifty crossed the 25,550 mark in early trade. The rise came after signs that the U.S. government shutdown may soon end, which lifted confidence in markets across Asia.
In India, strong results from major companies also added to the positive mood. Sectors like IT, pharma, and energy led the gains, while PSU banks and real estate stocks stayed slightly weak. Experts say investors are now preferring safer sectors as global uncertainty continues.
Among the top gainers, UPL Ltd moved up sharply after reporting nearly 10% growth in business and strong quarterly numbers. ICICI Bank also gained as analysts remained positive on the banking sector’s growth. Mahindra & Mahindra saw good buying too, with investors showing trust in the auto industry’s recovery.
On the other side, Apollo Hospitals and Tata Consumer Products slipped in trade, showing some weakness in healthcare and consumer demand stocks. Trent Ltd also saw mild selling after a strong rally in the past few sessions.
But not everything was positive. Foreign investors continued to sell heavily, pulling out nearly ₹12,500 crore from Indian markets so far in November. Experts warn that if this trend continues, it could slow down the current rally.
Meanwhile, gold prices are shining bright again. The yellow metal rose by over ₹1,200 per 10 grams to reach ₹1,22,290 today. Many investors are turning to gold as a safe option during global uncertainty and a weaker U.S. dollar. But the sudden rise in prices has also led to an increase in gold smuggling across India ahead of the festive season. Authorities have already raised concerns as demand remains high and prices keep climbing.
