Stock Markets Open Higher on Monday; Sensex and Nifty Trade in Green
Indian stock markets opened on a positive note on Monday, February 23. Sensex surged over 340 points while Nifty traded above 25,650 amid gains in banking and auto stocks.
Prasanth Subramani
Indian stock markets opened on a positive note on the first trading day of the week, Monday (February 23), and continued to trade in the green.
The BSE Sensex opened at 82,906.83 and was trading at 83,159.45, up by 344.74 points as of around 11:30 AM.
Similarly, the NSE Nifty rose by 81.70 points to trade at 25,652.95.
In broader markets, the Sensex Midcap 150 index declined by 0.5%, while the Smallcap 250 index gained 0.29%.
Sectoral Performance
Among sectoral indices, Nifty PSU Bank surged over 1.6%, leading the gains. Auto, banking, financial services, pharma, and real estate sectors also traded higher.
However, IT stocks fell by 1.5%, while the chemical sector declined by 1.8%, weighing on the market.
Top Gainers and Losers
Among the Sensex 30 stocks, Adani Ports jumped nearly 3%. Axis Bank, Kotak Mahindra Bank, HDFC Bank, Mahindra & Mahindra, ICICI Bank, and SBI gained between 1% and 2%.
On the downside, IT majors including Infosys witnessed a decline in share prices.
The market continues to remain influenced by sectoral rotation, with banking and financial stocks supporting the upward trend despite weakness in IT shares.
