Indian shares ended Monday's session in green. BSE Sensex ended up 230 points up to 61,964 and Nifty 50 closed up 111 points to 18,314.

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Among sectors Nifty Metal surged the most and gained over 3 percent. The top gaining stocks on the Nifty 50 were Adani Enterprises, Adani Ports, Divis Laboratories, Apollo Hospitals and Tech Mahindra.

While the top losers on the Nifty 50 were Nestle India, Hero Motocorp, Eicher Motors, Axis Bank and Coal India.

Shares of Adani Enterprises surged over 19 percent while Adani Ports shares gained over 5 percent. The shares saw a surge following Friday's news from the Supreme Court panel revealed that the SEBI investigation into the Adani Group shareholding has been on since October 2020 but there's no conclusive evidence yet in favour of the Adani Group or against it.

Meanwhile shares of Siemens tanked 8 percent after an announcement by the company to sell and transfer its low voltage motors and geared motors businesses to Siemens Large Drives India, a subsidiary of Siemens AG. This is with effect from 1st October, 2023 for a cash consideration of Rs 2,200 crore.

"Nifty opened on a flat but gradually recovered to close with gains of 111 points (+0.6 percent) at 18314 levels. The broader market too ended in line with the Nifty midcap 100 and smallcap 100 up 0.6 percent. All sectors ended in the green, except for Banking and Financials. Metals were the top gainers up 3 percent, followed by IT up 2 percent. The market has resumed its upward journey after taking a pause last week. Positive commentary from US Fed, consistent FII buying and healthy results from Index heavyweights supported the sentiments. Overall market outlook remains positive with stock-specific action. Over the next few days, Investors would take cues from global events like FOMC minutes, GDP numbers in the US, and CPI inflation in UK and Japan," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

BSE companies gained market capital of more of more than Rs 2 lakh crore on Monday

Indian rupee closed 16 paise lower at 82.82 per dollar on Monday against Friday's close of 82.66.

Also read: Stock Market Live: Sensex up over 200 points, Nifty 50 above 18,300, Adani twins, Divi's Labs top gainers

First Published:May 22, 2023 3:35 PM IST