- Nifty 50 gains 0.25%, crossing 25,850 mark.
- PSU Banks lead gains with Canara Bank up by 3.26%.
- Surana Solar surges 5% after winning a 54 MW solar project.
The Indian stock market started the week on a strong note as both the NSE Nifty 50 and BSE Sensex opened higher. Nifty 50 climbed by 0.25% to 25,856.05, and the Sensex advanced by 150 points, reaching 84,693.
In addition to banking, realty stocks showed strong upward momentum. PSP Projects surged over 4% after announcing new contracts worth ₹554.92 crore, including projects in Bangalore and Ahmedabad.
PSU Banks and Realty Stocks Propel Nifty Beyond 25,850, Surana Solar Shines
The trading session began on a positive note for the Indian stock market, with benchmark indices Nifty 50 and Sensex registering gains. Nifty surged past the 25,850 mark, up by 0.25%, while the Sensex climbed 150 points. The rally was primarily led by strong performances from public sector banks, with Canara Bank and Indian Bank posting notable gains. Bank of Maharashtra and Bank of Baroda also contributed to the market’s upward trend.
Real estate and construction sectors also played a role in the day’s market activity. PSP Projects saw a significant jump of 4.71% after announcing multiple contracts valued at ₹554.92 crore. The company’s stock rallied after securing major construction projects in Bangalore and Ahmedabad, which are expected to be completed within the next two years.
The renewable energy sector witnessed a boost with Surana Solar, whose shares hit the upper circuit after receiving a Letter of Award under the Mukhyamantri Saur Krushi Vahini Yojna 2.0. The project, which involves the installation of photovoltaic power stations, further reinforced market optimism in the energy sector.
Meanwhile, HFCL’s stock gained 1.63% on the back of a strategic partnership with General Atomics Aeronautical Systems, enhancing its prospects in the aerospace industry. This collaboration is expected to bolster HFCL’s presence in both domestic and international markets, particularly in defense and aeronautical systems.
Overall, the Indian stock market’s upward trajectory is bolstered by strong performances across sectors, with banking, realty, and renewable energy stocks leading the charge. Investors are optimistic about the strategic partnerships and major project wins that are driving growth.
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” — Philip Fisher
