Sensex Rises 491 Per Cent, Nifty Ends Above 17,300. Bank Stocks Zoom

Sensex Rises 491 Per Cent, Nifty Ends Above 17,300. Bank Stocks Zoom

Sensex and Nifty, the two key equity benchmarks, on Monday settled in the green on the back of buying in index majors Reliance Industries, ICICI Bank and recovery in global markets.

The BSE Sensex jumped 491 points (0.85 per cent) to settle at 58,410. The index opened lower and fell to a low of 57,639 in early trade. However, it bounced back in late morning deals and hit rallied 529 points (0.91 per cent) to touch a high of 58,449. The broader NSE Nifty climbed 126 points (0.73 per cent) to end at 17,311, marking its second straight session of gains.

On the 30-share Sensex platform, State Bank of India, NTPC, Bajaj Finserv, ICICI Bank, Axis Bank, Reliance Industries, and IndusInd Bank were the biggest winners. On the flip side, Larsen & Toubro, HCL Technologies, Wipro, Tata Steel, Nestle, Power Grid, and Bharti Airtel were the losers.

In the broader market, the Nifty MidCap index was up 0.24 per cent, while the Nifty SmallCap index added 0.5 per cent. Given this, the overall market breadth was mildly tilted towards sellers.

Sectorally, the Nifty PSU Bank index climbed 3.6 per cent, Nifty Bank index 1.6 per cent, Nifty Financial Services and Private Bank indices up to 1.5 per cent, and Nifty IT index 0.3 per cent.

The mood of the 30-share Sensex platform stood positive as 23 scrips advanced, while rest 7 declined.

In the previous session on Friday, the BSE benchmark had jumped 684 points (1.20 per cent) to settle at 57,919, while the Nifty climbed 171 points (1.01 per cent) to 17,185.

In Asia, markets in Seoul, Shanghai, and Hong Kong settled higher, while Tokyo ended lower. Stock exchanges in Europe were trading in the positive territory in mid-session deals. Wall Street had ended significantly lower on Friday.

International oil benchmark Brent crude was trading 0.07 per cent lower at $91.57 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the Indian capital market on Friday as they offloaded shares worth Rs 1,011.23 crore, as per exchange data.