Indian shares rose on Monday as gains in the second-largest private lender ICICI Bank on better-than-expected quarterly profit spurred a rise in heavyweight financials. NSE Nifty 50 rose 1% at 22,643, while the S&P BSE Sensex added 1.28% to 74,671. Analysts expect the market to continue its upward trend with key indicators showing positive signals. US and European markets also showed positive momentum.
Benchmark equity indices Nifty50 and Sensex ended at a fresh record high on Monday, led by financials, auto, and energy stocks. Analysts predict that Nifty50 needs the participation of private banking majors to continue its upward momentum. European shares slipped, while Nifty formed an ascending triangle pattern and showed bullish and bearish signs on different stocks. HDFC Bank, SBI, RIL, ICICI Bank, Coal India, Bajaj Auto, and Bajaj Finance were the most active stocks in value terms. No major stock hit its 52-week low. Overall, market breadth favoured bulls.
