Sensex Jumps 900 Points, Nifty Reclaims 9,800 Level; Axis Bank, Tata Steel Among Top Gainers

The investor sentiments were lifted as the government unveiled new guidelines for phased re-opening of all activities outside containment zones for the next one month beginning June 1.

Photo/ANI

New Delhi: Indian stock markets kick-started the week on a positive note on Monday with Sensex jumping 914.21 points or 2.82 per cent at 33,338.31 while 50 stock index Nifty reclaimed 9,838.55 level and notched 258.25 points up or 2.70 per cent higher than the previous close at 10.05 am. In the 30-stock benchmark index, 29 stocks were positive as Axis Bank, Tata Steel and HDFC Bank lifted the Sensex with a surge of 4-5 per cent while Sun Pharma was the only laggard. Bajaj Finance and IndusInd Bank also soared 4 per cent each. Other shares that remain in focus today include Yes Bank, Kotak Bank, TCS, IDBI Banks among others. The investor sentiments were lifted as the government unveiled new guidelines for phased re-opening of all activities outside containment zones for the next one month beginning June 1. The Cabinet Committee on Economic Affairs is expected to meet on Monday at the Prime Minister's residence in New Delhi. Meanwhile, Asian shares were at its three-month peak on Monday as the economies worldwide have opened up supporting the recovery apart from the ease in the tension between the US and China. Australia ASX All Ordinaries advanced 0.8%. Shanghai SE Composite Index jumped 1.6 per cent, Hong Kong's Hang Seng soared 3.4 per cent, Singapore's SGX Nifty was up nearly 2 per cent. The S&P BSE Sensex zoomed 895 points, or 2.7 per cent, to 33,300, and the Nifty50 index was topped 9,800 levels. Axis Bank and Tata Steel (both up 6%) were the top Sensex gainers. Besides, Bajaj Finance and IndusInd Bank also rose 4 per cent each. All the Nifty sectoral indices were in the green, led by Nifty Metal index, up 4 per cent. Nifty Bank index also rose over 3 per cent. Meanwhile, US equities posted solid gains on Friday closing as investors remain optimistic about reopening of economic activities. For the week ending Friday, the Dow advanced 3.8 per cent, the S&P 500 gained 3 percent, and the Nasdaq was up 1.8 per cent. US markets were closed Monday in observance of Memorial Day, Xinhua news agency reported. The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly gain of 5.2 per cent. For the month of May, the Dow notched a 4.3 per cent rise, the S&P 500 climbed 4.5 per cent, and the tech-heavy Nasdaq marked a 6.8 per cent return. Brent crude LCOc1 futures were off 8 cents at $37.76 a barrel, while U.S. crude CLc1 dipped 13 cents to $35.36. Also Watch  (With inputs from IANS)