The 30-share BSE Sensex jumped 503.47 points to 71,204.14 points in the early trade. Nifty climbed 178.55 points to 21,531.15 points.
Share Market News: Shares of Sigachi Industries Ltd surged over 6 percent amid a rally in the stock market on Monday i.e. January 29, 2024. The counter opened at Rs 78.75 and went on to hit an intraday high of Rs 83. This is a surge of 6.13 percent against the previous close of Rs 78.20. The 52-week high of the stock is Rs 86.69 and the 52-week low is Rs 22. The scrip has outperformed the sector by 4.67 percent.
Shares of Sigachi Industries Ltd, which has a market cap of Rs 2,518 crore, are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Meanwhile, benchmark equity indices rebounded in early trade on Monday in tandem with a rally in Asian markets along with buying in blue chip firms HDFC Bank and Reliance Industries.
The 30-share BSE Sensex jumped 503.47 points to 71,204.14 points in the early trade. Nifty climbed 178.55 points to 21,531.15 points. Among the Sensex firms, Sun Pharma, Axis Bank, Kotak Mahindra Bank, Power Grid, Larsen and Toubro, NTPC, ICICI Bank, HDFC Bank and Reliance Industries were the major gainers.
JSW Steel, Infosys, ITC and Mahindra And Mahindra were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.
The US markets had ended on a mixed note on Friday. Global oil benchmark Brent crude climbed 0.51 per cent to USD 83.98 a barrel. Markets were closed on Friday on account of Republic Day.
On Thursday, Sensex declined 359.64 points or 0.51 per cent to settle at 70,700.67 points while Nifty fell 101.35 points or 0.47 per cent to 21,352.60 points. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,144.06 crore on Thursday, according to exchange data.
Disclaimer: The article is for informational purposes only and not investment advice.