Sensex rises 760 points on gains in IT stocks, Nifty above 16,250

Sensex rises 760 points on gains in IT stocks, Nifty above 16,250

Sensex and Nifty closed strongly today.

New Delhi:

Indian equity indices extended their gains for the second straight session on Monday led by gains in technology, bank and metal stocks. Asian shares traded higher after a rally on Wall Street late last week. US stock futures continued the momentum and helped investor sentiment today as US retail sales increased in June.

Back home, the 30-share BSE Sensex closed 760 points or 1.41 per cent higher at 54,521 today, while the broader NSE Nifty ended 229 points or 1.43 per cent higher at 16,279.

Mid- and small-cap stocks ended on a strong note as Nifty Midcap 100 rose 1.40 per cent and small-cap by 1.59 per cent.

Of the 15 sector gauges, 13 – compiled by the National Stock Exchange – settled in the green. Sub-indices Nifty IT, Nifty PSU Bank and Nifty Metal outperformed the NSE platform with gains of 3.13 per cent, 2.77 per cent and 2.49 per cent, respectively.

However, Nifty FMCG and Nifty Pharma fell up to 0.09 per cent and 0.15 per cent each.

On the stock-specific front, Hindalco was the top gainer in Nifty as the stock rose 4.75 per cent to Rs 367.20. IndusInd Bank, Infosys, Tech Mahindra and Bajaj Finserv were also gainers.

Overall market breadth remained positive as 2,354 stocks declined, while 1,093 declined on the BSE.

On the 30-share BSE index, IndusInd Bank, Infosys, TechM, Bajaj Finserv, Axis Bank, UltraTech Cement, Kotak Mahindra Bank, Wipro, ICICI Bank, Bharti Airtel, Bajaj Finance and Tata Steel were the top gainers in their shares. up to 4.34 percent.

Conversely, Dr Reddy’s, HDFC Bank, M&M, Nestle India, Maruti, Hindustan Unilever, HDFC and NTPC remained in the red.

Besides, shares of Life Insurance Corporation of India (LIC), the country’s largest insurer and largest domestic financial investor, closed 1.72 per cent lower at Rs 696.35.

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