Bullish Run: Sensex records 1200 pts gain, Nifty edges closer to 21,700

The domestic equity market indices ended the session on a positive note on Monday tracking gains in Asian peers after China rolled out measures to prop up its markets while US data raised hopes of an early interest rate cuts by the Federal Reserve.At close, the Sensex was up 1,240.90 points or 1.76 percent at 71,941.57, and the Nifty was up 385.00 points or 1.80 percent at 21,737.60. About 1963 shares advanced, 1393 shares declined, and 95 shares unchanged.
Stocks and Sectors
ONGC, Reliance Industries, Adani Enterprises, Coal India and Adani Ports were biggest gainers on the Nifty,while losers included Cipla, ITC, LTIMindtree, Bajaj Auto and Infosys.
On the sectoral front,oil & gas index up 5 percent, Power index up 3 percent, and Capital Goods index up 2 percent. BSE Midcap index rose 1.7 percent and Smallcap index added a percent.
On 29 Jan'24,the Indian rupee depreciated 4 paise to close at 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers.
Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows.
Experts Take:
Market experts have recommended eight stocks to buy for Monday- Motherson, GAIL, Amber Enterprises, BEML, Amber Enterprises, West Coast Paper, Amara Raja Energy, and JSW Steel.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)