Sensex surges 395 points as financial, realty stocks rise; Nifty settles near 15,850 – Times of India
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NEW DELHI: Equity indices surged on Monday with the benchmark BSE sensex rising nearly 400 points led by gains in banking, financial and realty stocks.
The 30-share BSE index jumped 395 points or 0.75 per cent to close at 52,800; while the broader NSE Nifty settled 112 points or 0.71 per cent higher at 15,834.
Top gainers in the sensex pack included State Bank of India (SBI), Tata Steel, Bajaj Finserv, L&T, Axis Bank and Bajaj Finance with their shares rising as much as 2.16 per cent.
Tech Mahindra, Dr Reddy, HCL Tech, Titan and Bharti Airtel were the only losers falling up to 1.51 per cent.
On the NSE platform, sub-indices Nifty Realty, Bank and Financial Services gained as much as 2.73 per cent.
According to experts, availability of more Covid-19 vaccines raised expectations of a sustained economic recovery, with investors hoping for a strong corporate earnings season that gets underway later this week.
“IT results are expected to be positive and good June auto sales numbers can provide sufficient positive triggers”, Narendra Solanki, head of equity research at Anand Rathi Investment Services told news agency Reuters.
A steady dip in Covid-19 cases, relaxation of pandemic-led curbs and a rise in daily vaccinations has boosted sentiment so far.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 982.80 crore on Friday, as per provisional exchange data.
(With inputs from agencies)
The 30-share BSE index jumped 395 points or 0.75 per cent to close at 52,800; while the broader NSE Nifty settled 112 points or 0.71 per cent higher at 15,834.
Top gainers in the sensex pack included State Bank of India (SBI), Tata Steel, Bajaj Finserv, L&T, Axis Bank and Bajaj Finance with their shares rising as much as 2.16 per cent.
Tech Mahindra, Dr Reddy, HCL Tech, Titan and Bharti Airtel were the only losers falling up to 1.51 per cent.
On the NSE platform, sub-indices Nifty Realty, Bank and Financial Services gained as much as 2.73 per cent.
According to experts, availability of more Covid-19 vaccines raised expectations of a sustained economic recovery, with investors hoping for a strong corporate earnings season that gets underway later this week.
“IT results are expected to be positive and good June auto sales numbers can provide sufficient positive triggers”, Narendra Solanki, head of equity research at Anand Rathi Investment Services told news agency Reuters.
A steady dip in Covid-19 cases, relaxation of pandemic-led curbs and a rise in daily vaccinations has boosted sentiment so far.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 982.80 crore on Friday, as per provisional exchange data.
(With inputs from agencies)
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