Stock Market Rallies For Third Day: Sensex Rises 433 Points, Nifty Ends Above 15,800

Stock update: Coal India, ONGC, UPL, HCL Tech, L&T, Tech M, Hindalco, BPCL, Asian Paints, Infosys, and IndusInd Bank advanced between 2 per cent and 3 per cent

Sensex and Nifty, the two key equity benchmarks, on Monday rallied for the third straight session, led by IT stocks and metal gains. The domestic indices moved upward tracking gains mostly from the global market.

The 30-share BSE Sensex jumped 433 points (0.82 per cent) to close at 53,161, while the broader NSE Nifty moved 133 points (0.85 per cent) up to settle at 15,832.

Coal India, ONGC, UPL, HCL Tech, L&T, Tech M, Hindalco, BPCL, Asian Paints, Infosys, and IndusInd Bank advanced between 2 per cent and 3 per cent, while Apollo Hospitals, Eicher Motors, HDFC Life, Kotak Bank, RIL, and Titan fell over half a per cent.

In the broader markets, the Nifty MidCap and SmallCap indices gained 1 per cent and 2 per cent, respectively.

On NSE, all of the 15 sector gauges settled in the green. Sectorwise, the broad-based rally saw the Nifty Auto index ending with 2-per cent gain, and the Nifty Metal index with 1.6-per cent rally.

The overall market breadth stood positive as 2,387 shares advanced, while 1,045 declined on the BSE.

In the previous session on Friday, the Sensex had climbed 462 points (0.88 per cent) to settle at 52,727, while the Nifty gained 142 points (0.92 per cent) to settle at 15,699.

In Asia, Japan's Nikkei closed 1.4 per cent higher; South Korea's Kospi 1.5 per cent; and Hong Kong's Hang Seng 2.35 per cent.

European stocks moved higher on Monday, continuing a positive trend seen at the end of last week's trading. The pan-European Stoxx 600 index added 1.1 per cent in early trade, with basic resources jumping 3.7 per cent to lead gains.

Meanwhile, the rupee slipped 1 paisa to close at its fresh life-time low of 78.34 (provisional) against US dollar on Monday despite a rally in the domestic equity markets.

Firm crude oil prices in the international market and unabated foreign capital outflows put pressure on the domestic unit. However, a weak dollar overseas supported the local currency, forex dealers said.

Brent crude futures, the global oil benchmark, rose 0.32 per cent to $113.48 per barrel.

Foreign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 2,353.77 crore, as per exchange data.