Stock Market: Sensex Climbs 468 Points, Nifty Closes Above 18,400. FMCG, Auto Stocks Gain
Stock update: On the 30-share Sensex platform, M&M was the top gainer. The other notable winners were PowerGrid, Airtel, Bajaj twins, HDFC, HUL, ITC, Maruti, Reliance
The key Indian equity benchmarks, Sensex and Nifty, on Monday staged a steady upward march as the domestic indices settled higher.
The S&P BSE Sensex ended near the day's high at 61,806, up 468 points (0.76 per cent). On the other hand, the Nifty50 closed at 18,420, up 151 points (0.8 per cent).
On the 30-share Sensex platform, M&M was the top gainer. The other notable winners were PowerGrid, Airtel, Bajaj twins, HDFC, HUL, ITC, Maruti, Reliance as they climbed between 1.5 per cent and 4 per cent. On the flip side, TCS, Infosys, Tata Motors, Sun Pharma, and IndusInd Bank were the losers.
The overall breadth of the 30-share BSE Sensex stood positive as 24 scrips advanced, while rest six declined on Monday.
In the broader markets, the Nifty MidCap and SmallCap indices added around 0.5 per cent each, lifted by PB Fintech, BHEL, Cummins India, UTI AMC, Suzlon, and Shree Renuka Sugars.
Sectorwise, the Nifty IT index was the most downbeat sector as it dipped 0.5 per cent. Accenture Plc's results have nudged analysts to reaffirm their cautious stance on the Indian IT companies as they foresee moderation in revenue growth going ahead.
In the previous session on Friday, the BSE benchmark fell 461 points (0.75 per cent) to settle at 61,338, while the NSE Nifty declined 146 points (0.79 per cent) to end at 18,269.
Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower. Equity exchanges in Europe were trading in the green in mid-session deals. The US markets had ended lower on Friday.
Meanwhile, the rupee gained 6 paise to settle at 82.69 (provisional) against the US dollar on Monday as robust buying in the domestic equities and a weak American currency against key crosses overseas boosted investor sentiments. However, fresh foreign capital outflows and rising crude prices restricted the rupee's rise, forex dealers said.
At the interbank forex market, the local unit opened weak at 82.80 against the greenback and witnessed an intra-day high of 82.57 and a low of 82.80. It finally ended at 82.69 against the American currency, registering a rise of 6 paise over its previous close of 82.75.
Foreign institutional investors (FIIs) offloaded shares worth Rs 1,975.44 crore on Friday, according to exchange data.
Brent crude futures, the global oil benchmark, advanced 1.10 per cent to $79.91 per barrel.
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