The Chandrayaan-3 mission, the first of India’s soft lunar landings, has led to higher benchmark stock market indices and investors anticipating the Reserve Bank of India’s policy meeting minutes. The S&P BSE Sensex traded 297.41 points higher, whereas Nifty50 sectoral gained 93.65 points, with Adani Enterprises, Adani Ports, Bajaj Finserv, IndusInd Bank, and Tech Mahindra as the top five gainers.
Following Chandrayaan-3’s landing, several stocks, including Bharat Heavy Electricals Ltd, Hindustan Aeronautics, Larsen & Toubro, Mishra Dhatu Nigam, MTAR Technologies, and Walchandnagar Industries, are likely to be in focus today. Santosh Meena, Head of Research at Swastika Investment Ltd., believes the success of Chandrayaan-3’s landing will create an upbeat environment for these companies, potentially increasing their stock values.
In the wake of Chandrayaan-3’s success, the Sensex and Nifty gain momentum
In brief, market indices rose following the success of Chandrayaan-3 and the release of the RBI policy. As sectors start the day with gains, Dalal Street is feeling upbeat. Bajaj Finserv, Tech Mahindra, and Adani Enterprises are among the top gainers.
The standard stock indexes opened higher
Just one day after the Chandrayaan-3 mission of the Indian Space Research Organisation (ISRO) successfully executed a soft lunar landing, making India the first nation to do so on the south polar region (dark side) of the Moon, benchmark stock market indices opened higher on Thursday. Market investors also anticipate the Reserve Bank of India’s policy meeting minutes.
The upbeat mood on Dalal Street
The S&P BSE Sensex traded 297.41 points higher at 9:20 am, reaching 65,730.71, while the Nifty50 gained 93.65 points, reaching 19,537.65. As volatility fell, broader equity markets opened greater than the benchmarks, reflecting the upbeat mood on Dalal Street.
Top 5 gainers & losers
The Nifty IT, Nifty Bank, Nifty Metal, and Nifty Financial Services sectoral indices started the day in the green. Adani Enterprises, Adani Ports, Bajaj Finserv, IndusInd Bank, and Tech Mahindra were the top five gainers on the Nifty50. Eicher Motors, Jio Financial Services, Nestle India, NTPC, and ONGC were among the top five losers.
These stocks are likely to be in focus
Following Chandrayaan-3’s successful landing on the Moon, a range of stocks, including Bharat Heavy Electricals Ltd (BHEL), Hindustan Aeronautics, Larsen & Toubro, Mishra Dhatu Nigam, MTAR Technologies, and Walchandnagar Industries are likely to be in focus today.
At various points during the process, these businesses contributed to the creation of Chandrayaan-3.
Santosh Meena’s remark
The success of Chandrayaan-3’s landing, according to Santosh Meena, Head of Research at Swastika Investment Ltd., “represents positioned to establish an upbeat environment for these companies, possibly increasing their stock values.”
“While short-term gains are likely, these entities’ long-term prospects are still positive overall. Investors urged to maintain their investments and see profit-taking as a chance for long-term engagement,” the executive said.