Stock market today: Nifty50 ends above 24,700; BSE Sensex up over 400 points

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, closed in green on Monday driven by strong performance in metal, commodities and automobile shares, supported by positive global market sentiment.The NSE Nifty-50 finished at 24,722.75, increasing by 157.40 points or 0.64 per cent. During trading, it touched a high of 24,734.65, up by 169.3 points or 0.6 per cent. The 30-share Sensex concluded at 81,018.72, rising by 418.81 points or 0.52 per cent. It reached an intraday peak of 81,093.19, advancing 493.28 points or 0.61 per cent.The primary gainers amongst Sensex companies included Tata Steel, BEL, Adani Ports, Tata Consultancy Services, Tech Mahindra, Bharti Airtel, HCL Technologies, Trent, Mahindra & Mahindra, Reliance Industries, UltraTech Cement and Larsen & Toubro.Conversely, Power Grid, HDFC Bank, ICICI Bank, and Hindustan Unilever registered declines."The domestic equity market edged higher, supported by strong performance in the metal and auto sectors. A weakening US Dollar, along with robust monthly auto sales and encouraging quarterly results from leading automakers, helped renew investor interest in these sectors."The Q1 earnings summary indicates that consumption-driven companies are benefiting from a rebound in volume demand. Meanwhile, rising unemployment and slower job creation in the US have reinforced expectations of a potential Fed rate cut. However, there still remains room for caution due to high US tariffs," Vinod Nair, Head of Research, Geojit Investments, said.In Asian markets, positive closings were seen in Hong Kong's Hang Seng, South Korea's Kospi and Shanghai's SSE Composite index, whilst Japan's Nikkei 225 finished lower.European markets traded positively, whilst US markets closed negatively on Friday.The global oil benchmark Brent crude decreased by 1.15 per cent to USD 68.87 per barrel.Foreign Institutional Investors (FIIs) sold equities worth Rs 3,366.40 crore on Friday, as per exchange data.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)