MUMBAI: Snapping three consecutive sessions of losing run, the Indian stock markets’ key indices, Sensex and Nifty, rallied on Monday, led by strong buying support in FMCG, banking and financial stocks.
The 30 stock S&P BSE Sensex jumped 326.84 points to close at 53,234.77 points against its previous session’s close at 52,907.93 points. Earlier, the Sensex started the day in the red at 52,851.67 points and fell to a low of 52,674.81 points in the morning trade. It touched a high of 53,301.99 points in the intra-day.
The broader Nifty 50 of the National Stock Exchange closed 83.30 points higher at 15,835.35 points. Earlier, the Nifty 50 started the day in the red at 15,710.50 points and fell to a low of 15,661.80 points.
There was good buying support in banking and financial stocks. IndusInd Bank surged 3.05 per cent to Rs 832.10, ICICI Bank jumped 2.25 per cent to Rs 719.85, Axis Bank soared 1.44 per cent to Rs 654.45 while State Bank of India jumped 1.40 per cent to Rs 473.45 and HDFC Bank closed 0.13 per cent higher at Rs 1,355.40.
The index heavyweight Reliance Industries Ltd closed 0.21 per cent higher at Rs 2,413.95. FMCG stocks witnessed a strong rally. Hindustan Unilever soared 4.03 per cent to Rs 2,374.80, ITC surged 2.62 per cent to Rs 291.80 while Nestle India climbed 1.04 per cent to Rs 1,7973.40.
Power Grid Corporation, Bharti Airtel, Titan, HCL Technologies, L&T, Infosys, Asian Paints and NTPC were among the other major Sensex gainers.
Metal stocks, however, slumped. Tata Steel dipped 2.15 per cent to Rs 854.55. The country’s largest IT firm Tata Consultancy Services slumped 2.46 per cent to Rs 3234.65. Mahindra & Mahindra slipped 1.56 per cent to Rs 1091.10. Tech Mahindra fell 1.01 per cent to Rs 1000.35. Dr Reddy’s Laboratories and Wipro were the other Sensex losers. Only six of the 30 scrips that are part of the Sensex closed in the red. (ANI)