MUMBAI: The Indian stock market’s key indices, Sensex and Nifty, surged by nearly one-and-a-half per cent on Monday, led by strong buying support in IT, infra, banking, and financial stocks. This is the second consecutive session of the rally in the equities markets.
The 30 stock S&P BSE Sensex surged 760.37 points to close at 54,521.15 points against its previous session’s close at 53,760.78 points. The Sensex had gained 344.63 points on Friday, the previous trading session.
The broader Nifty 50 of the National Stock Exchange surged 229.30 points to close at 16,278.50 points against its previous session’s close at 16,049.20 points.
There was strong buying support in IT stocks. Infosys surged 4.23 per cent to Rs 1,491, Tech Mahindra jumped 3.67 per cent to Rs 1,010.05 and Wipro jumped 2.83 per cent to Rs 405. Tata Consultancy Services reversed last week’s losing run and closed 2.23 per cent higher at Rs 3,060.35. HCL Technologies rose 1.95 per cent to Rs 900.30.
IndusInd Bank jumped 4.36 per cent to Rs 850.70 and Bajaj Finserv jumped 3.46 per cent to Rs 12,249.10. Axis Bank, Kotak Bank, UltraTech Cement, L&T, ICICI Bank, Bajaj Finance, State Bank of India and Tata Steel were among the major Sensex gainers.
Only seven of the 30 scrips that are part of the benchmark Sensex closed in the red. Dr Reddy’s Laboratories slipped 1.70 per cent to Rs 4,465.70, HDFC Bank slipped 1.19 per cent to Rs 1,347.65. Mahindra & Mahindra, Maruti Suzuki, Hindustan Unilever, Nestle India and HDFC were the other Sensex losers. (ANI)