An analyst from Anand Rathi said that JSW Steel found significant support near the Rs 930-935 zone, signalling a strong demand area that has managed to halt the stock's decline.

Over the past 12 months, Zomato's stock has delivered an impressive 130% return, significantly outperforming the Sensex's 20% return during the same period. In comparison, JSW Steel, the outgoing constituent of the Sensex,

Zomato stocks surged in early trade on Monday, mirroring the stock market rally following a major announcement.

In a development that brought laurels to the food delivery and quick service company, Zomato was included in the coveted BSE Sensex 30, as a constituent, replacing JSW Steel. While Zomato shares were soaring in the intraday trade,

The foodtech major is also expected to be included in the Nifty 50 benchmark index, potentially leading to fund inflows of $607 million.

Nifty and Sensex soared in afternoon trade, fueled by a decisive BJP-led Mahayuti Alliance victory and robust short covering, driving broad-based gains across all sectors despite paring some intraday highs.

Zomato's shares surged 7% as it is set to replace JSW Steel in the BSE Sensex, effective December 23. This inclusion follows a year of impressive growth for Zomato, with its stock delivering 130% returns.

Thus far in the calendar year 2024, Zomato stock price has zoomed 125 per cent, as compared to the 11 per cent rise in the BSE Sensex

With this, Zomato is set to replace JSW Steel in the 30-stock benchmark index as part of the upcoming reconstitution, effective December 23