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Riding on the back of robust bullish sentiment, Sensex and Nifty 50 neared their lifetime high levels on Monday. Consumer durables stocks witnessed the most buying, while substantial gains were also seen in auto and banking stocks. Oil and gas stocks, however, emerged as top underperformers.
The BSE Sensex climbed 772.01 points or 1.25 percent to end at 62,501.69, and the Nifty50 added 295.9 points or 1.62 percent to close at 18,499.30. The Sensex and the Nifty added 1 percent and 0.77 percent so far this month
Stocks to watch: Shares of firms like SAIL, Hindustan Zinc, ONGC, BHEL, Vedanta, Voda Idea, Zee, and others will be in focus on Friday's trade.
The trends of the major indices in the course of the week’s trading
The sector has been facing challenges posed by the rising risk of recession and higher inflation in its major export markets of the US and European countries. This stress in the sector is also evident from the dismal financial performance of IT majors including TCS and Infosys in Q4FY23.