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Sensex advances over 250 points in early trade, Nifty above 17,200; M&M top gainer

The BSE Sensex climbed 274 points to 57,844 in early trade while the NSE Nifty gained 87 points to trade above the 17,200-mark. M&M emerged as the top Nifty gainer as the stock soared 5.91 per cent to Rs 1,229.80. Cipla, Maruti, Tata Motors and PowerGrid were also among the gainers.

ET Now Digital

Updated Aug 1, 2022, 09:57 IST

Sensex advances 250 points in early trade, Nifty above 17,200; M&M top gainer

New Delhi: Domestic benchmark indices opened in green on Monday, extending their gains for the fourth consecutive session ahead of the Reserve Bank of India’s policy meeting this week. The monetary policy committee (MPC) is scheduled to meet from August 3-5.

The BSE Sensex climbed 274 points to 57,844 in early trade while the NSE Nifty gained 87 points to 17,245. M&M emerged as the top Nifty gainer as the stock soared 5.91 per cent to Rs 1,229.80. Cipla, Maruti, Tata Motors and PowerGrid were also among the gainers.

On the 30-share BSE index, M&M, Maruti, PowerGrid, Reliance Industries, UltraTech Cement, Bajaj Finance, Wipro, Tata Steel, Dr Reddy's, Asian Paints, Bharti Airtel and HCL Technologies were among the top gainers.

On the flip side, Sun Pharma, IndusInd Bank, Hindustan Unilever, Axis Bank, Titan and TCS were trading in the red.

On the stock-specific front, shares of UPL climbed 2.09 per cent ahead of their June quarter results. Besides, shares of Zee Entertainment were up 3.6 per cent in trade after exchanges approved their merger with Sony Pictures Networks India.

Broader markets were exuberant in trade as Nifty Midcap 100 and Nifty Smallcap 100 inched higher up to 0.5 per cent. Sectorally, Nifty Auto and Nifty Media hogged the limelight as they climbed up to 2 per cent in trade.

Meanwhile, domestic benchmark indices added over 1.3 per cent on the last day of the week on July 29 powered by metals, media and banks. On a weekly basis, Sensex and Nifty added 2.25 per cent with the latter regaining and holding the 17,000 mark. Nifty has gained 8% on a monthly basis.

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