Mumbai, April 21 (IANS) The Indian stock market continued its strong rally for the fifth day in a row on Monday, as investors showed heavy buying interest in banking, IT, and auto stocks.
The Sensex jumped 855.30 points, or 1.09 per cent, to close at 79,408.50. Similarly, the Nifty index of the National Stock Exchange (NSE) also ended on a higher note. It surged 273.90 points, or 1.15 per cent, to close at 24,125.55.
Out of the 30 stocks that are part of the Sensex, the top gainers included Tech Mahindra, IndusInd Bank, Power Grid Corporation, Bajaj Finserv, and Mahindra and Mahindra. Some of these stocks gained up to 4.91 per cent during the day.
In the past five trading sessions, the Sensex has rallied by 7.5 per cent or 5,562 points. During the same period, the Nifty has jumped by 7.7 per cent or 1,726 points.
The broader markets performed even better than the main indices. The Nifty Midcap100 rose by 2.50 per cent, while the Nifty Smallcap100 climbed by 2.21 per cent.
Banking stocks were in strong demand as the Bank Nifty index touched a new high of 55,461.65 during the intraday. It finally closed at 55,304.50, rising 1.87 per cent.
The biggest gainers in the banking space included AU Small Finance Bank, IDFC First Bank, IndusInd Bank, and Federal Bank, which ended the day with gains between 3.72 per cent and 7.32 per cent.
At the same time, both the Nifty Private Bank and PSU Bank indices also ended the day with gains of over 2 per cent each.
Apart from banking, most other sectors on the NSE also closed in the green. Nifty IT, Auto, Realty, and Oil and Gas indices all rose more than 2 per cent.
However, Nifty FMCG was the only index to end slightly lower. Meanwhile, the Indian rupee commenced the week with upward momentum, marking its fifth consecutive day of gains.
“This positive trend was fuelled by a weakening US dollar against major global currencies. Furthermore, robust performance in domestic equity markets, consistent inflows from foreign investment, and a decline in crude oil prices provided additional tailwinds for the rupee’s appreciation,” said Dilip Parmar, senior research analyst at HDFC Securities.
–IANS
pk/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
