The Sensex jumped 1.26% while the Nifty 50 gained 1.11% on Monday, led by strong buying in banking, metals and auto stocks.
Indian benchmark equity indices ended sharply higher on Monday, with the BSE Sensex surging nearly 940 points as strong gains in banking, metals and consumer stocks lifted the market.
The Sensex closed at 75,502.85, up 938.93 points or 1.26 per cent, after hitting an intraday high of 75,805.27. The index had opened at 74,415.79 and briefly slipped to a low of 73,949.76 during early trade before staging a strong rebound.
The broader Nifty 50 also advanced 257.7 points or 1.11 per cent to settle at 23,408.80, after touching an intraday high of 23,502.
Market gains were driven largely by banking, metal and consumption stocks, with several heavyweight shares posting strong advances.
Among the top performers on the Sensex were UltraTech Cement, which climbed more than 4 per cent, followed by Mahindra & Mahindra, HDFC Bank, Trent Ltd, and Bajaj Finance.
Other notable gainers included ITC Limited, State Bank of India, Axis Bank, Reliance Industries, and ICICI Bank, reflecting broad-based buying across financials and consumption-linked sectors.
Metal stocks also saw strong demand, with Tata Steel rising more than 1.5 per cent during the session.
IT stocks drag
However, gains were capped by weakness in information technology stocks.
Shares of Infosys, Tata Consultancy Services, and HCLTech ended lower, while telecom major Bharti Airtel and jewellery retailer Titan Company also closed in the red.
Defensive and utility stocks such as NTPC, Power Grid Corporation of India, and Sun Pharmaceutical Industries also declined.
Rupee near record low
Currency markets reflected continued caution. The Indian rupee closed at 92.42 per US dollar, hovering near its record low after briefly touching 92.4750 last week.
Traders said the rupee avoided further losses largely due to likely intervention by the Reserve Bank of India through state-run banks, even as elevated oil prices kept pressure on the currency.
Economists warn that prolonged crude prices above $100 could widen India’s trade deficit and strain government finances, especially as the country imports the majority of its energy needs.
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