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Markets sustain winning streak; Sensex jumps over 560 points, Nifty tops 22,300-level
Equity benchmark indices Sensex and Nifty climbed nearly 1 per cent each on Monday amid a rally in Asian and European markets, decline in Brent crude oil prices and buying by foreign investors.
Mumbai: Equity benchmark indices Sensex and Nifty climbed nearly 1 per cent each on Monday amid a rally in Asian and European markets, decline in Brent crude oil prices and buying by foreign investors. Extending its previous day's rebound, the 30-share BSE Sensex climbed 560.29 points or 0.77 per cent to settle at 73,648.62. During the day, it advanced 679.47 points or 0.92 per cent to 73,767.80.
The NSE Nifty went up by 189.40 points or 0.86 per cent to 22,336.40. From the Sensex basket, Larsen & Toubro, Bajaj Finance, Axis Bank, State Bank of India, UltraTech Cement, Wipro, ICICI Bank, Infosys, HCL Technologies and Asian Paints were the major gainers. NTPC, JSW Steel and HDFC Bank were the laggards. In the broader market, the BSE smallcap gauge climbed 1.26 per cent and midcap index rallied 0.93 per cent. Among the indices, consumer durables advanced 2.53 per cent, industrials (1.93 per cent), capital goods (1.65 per cent), telecommunication (1.17 per cent), financial services (1.04 per cent) and consumer discretionary (1.02 per cent). Utilities emerged as the only laggard. In Asian markets, Seoul, Tokyo, and Hong Kong settled in the positive territory while Shanghai ended lower. European markets were trading with gains. Wall Street ended on a mixed note on Friday. "Global equities were mostly higher on Monday as a relief rally was underway as geopolitical risks subsided," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Global oil benchmark Brent crude declined 0.80 per cent to USD 86.59 a barrel. "The Indian market extended last Friday's relief rally as Middle East tension saw some respite, though the situation remains fluid.
The recovery was broad-based across sectors, with renewed interest in mid and smallcaps," said Vinod Nair, Head of Research, Geojit Financial Services. Oil prices showed some relief but are still at elevated levels, he added. Foreign Institutional Investors (FIIs) turned buyers on Friday and they bought equities worth Rs 129.39 crore, according to exchange data. The BSE benchmark climbed 599.34 points or 0.83 per cent to settle at 73,088.33 on Friday. The NSE Nifty jumped 151.15 points or 0.69 per cent to 22,147.
