Sensex surges 570 points, resumes winning run after one-day break — 10 key highlights from Indian stock market today

Indian benchmark indices — Sensex and Nifty — resumed their winning run after a one-day hiatus on Monday, October 27. Hopes of a US-China trade deal and the possibility of a rate cut announcement by the American central bank bolstered the stock market bulls in trade today.

Today's rally once again raised the possibility of a fresh all-time high in upcoming sessions.

Sensex closed the day at 84,778.84, up 567 points or 0.67%, while the Nifty 50 settled the session 171 points or 0.66% at 25,966.05. The indices have now gained in seven out of the last eight trading sessions.

Here are 10 key highlights from the Indian stock market:

Vinod Nair, Head of Research, Geojit Investments Limited, said the domestic market witnessed a broad-based recovery owing to progress in the US-China trade talks.

"Softer-than-expected US CPI data renewed expectations of a FED rate cut this week, boosting investor confidence. Easing global headwinds, coupled with strong domestic reforms, provided cues for domestic earnings growth and justified the current premium valuations," said Nair.

Thirty-nine Nifty 50 stocks surged in trade on Monday. Grasim gained 3.22% while SBI Life jumped 3.16%. Bharti Airtel, SBI and RIL were among other gainers, rising over 2% each.

Eleven Nifty stocks closed in the red today. Kotak Mahindra Bank, down 1.72%, declined the most. It was trailed by BEL, Bajaj Finance, Adani Enterprises and ONGC.

Barring Nifty Media and Nifty Pharma, all indices closed in the green today. Nifty PSU Bank surged the most at 2.22% while the Private Bank index added 1.46%.

More to come…

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