Indian Stock Market Posts Strong Gains as Sensex Surpasses 78,000
The Indian stock market started Monday's session on a strong note, with both benchmark indices closing higher. The Sensex gained 544.39 points, or 0.70%, to settle at 78,639.03, while the Nifty 50 advanced 390.70 points, or 1.60%, to close at 24,774.30.
The National Stock Exchange (NSE) has revised its trading schedule for select market segments with effect from August 3. For F&O stocks in the cash market, regular trading will now end at 3:15 PM instead of 3:30 PM, followed by a Closing Auction Session (CAS) from 3:15 PM to 3:35 PM.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments, the market is set for a breakout above 24,500 Nifty and has the potential to sustain above that level. The decline in Brent crude to below $84, the good progress in monsoon in July, and FIIs turning buyers are positive triggers for the market.