Stock Market: Sensex Rises 322 Points, Nifty Ends Above 17,900 Amid Global Cues; IT, Realty Shine
Stock update: Titan rose the most by 2.39 per cent, followed by Axis Bank, Tech Mahindra, and Tata Steel. The other were RIL, Infosys, TCS, ICICI Bank, Bajaj Finance, and L&T on the BSE platform
Sensex and Nifty, the two key equity benchmarks, on Monday closed above the 60,000-mark as investors shrugged off hawkish policies by global central banks. The domestic indices rose by about 322 points tracking gains in banking, IT, and energy stocks amid positive global equities.
The BSE Sensex barometer closed higher by 321 points (0.54 per cent) at a three-week high of 60,115, as its 21 index constituents closed in the green. After a strong opening, the index touched a day's high of 60,284 and a low of 59,912. On the other hand, the broader NSE Nifty spurted by 103 points (0.58 per cent) to settle at 17,936 points, with 36 of its constituents ending with gains.
Foreign fund buying, crude oil prices trading near $93 level, and macro data reflecting the strong growth recovery, boosted investor sentiment. Gains in global equity markets also propped up the local equities. Investors were also awaiting key consumer inflation and industrial production data to be released after market hours.
On the 30-share Sensex platform, Titan rose the most by 2.39 per cent, followed by Axis Bank, Tech Mahindra, and Tata Steel. The other gainers were RIL, Infosys, TCS, ICICI Bank, Bajaj Finance, and L&T. On the flip side, HDFC fell the most by 0.43 per cent, while HDFC Bank and Nestle also declined.
In the broader markets, the BSE MidCap and SmallCap indices advanced up to 1 per cent higher.
Sectorwise, it was a sea of green with the Nifty Realty and IT indices leading the charts, rising 2 per cent and 1.4 per cent, respectively. The Nifty Auto index poste the smallest gain of 0.27 per cent.
In the previous session, the BSE Sensex finally closed at 59,793.14, up 104.92 points, while the NSE Nifty ended higher by 34.60 points at 17,833.35.
Among global markets, shares climbed in Europe and Asia after last week's strong close on Wall Street snapped a three-week losing streak. Many Asian markets were closed for holidays. The US futures rose while oil prices turned higher. While Tokyo's Nikkei 225 gained 1.2 per cent, markets in Shanghai, Hong Kong and Seoul were closed for holidays.
Brent crude oil advanced 28 cents to USD 93.12 a barrel. Foreign institutional investors (FIIs) were net buyers to the tune of Rs 2,132.42 crore on Friday, as per exchange data.
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