MUMBAI: Benchmark Sensex surged 454 points, and Nifty closed above 23,300 on Monday, driven by gains in banking stocks, particularly Kotak Mahindra Bank, and firm global trends.
The 30-share BSE Sensex jumped 454.11 points or 0.59 per cent to settle at 77,073.44
The 30-share BSE Sensex jumped 454.11 points or 0.59 per cent to settle at 77,073.44. Intra-day, it surged 699.61 points or 0.91 per cent to 77,318.94. The NSE Nifty climbed 141.55 points or 0.61 per cent to 23,344.75, with 29 of its constituents ending higher.
Among Sensex shares, Kotak Mahindra Bank soared over 9 per cent after reporting a 10 per cent growth in consolidated net profit at Rs4,701 crore, driven by the strong performance of its capital markets-linked businesses.
Other gainers included Bajaj Finance, Bajaj Finserv, NTPC, State Bank of India, Power Grid, HDFC Bank, Tech Mahindra, and Asian Paints. Meanwhile, Zomato, Adani Ports, Tata Consultancy Services, Mahindra & Mahindra, Maruti, and Tata Motors were among the laggards.
Other Asian markets
In Asian markets, Tokyo, Shanghai, and Hong Kong ended in the green, while Seoul settled lower. European markets were trading higher, and US markets closed in the green on Friday.
A strong positive sentiment from Asian markets bolstered domestic markets, starting the week on a healthy note. Further, a robust initial set of earnings from the banking and financial sectors triggered a broad-based rally, driven by the likelihood of improved earnings in the near future.
“However, uncertainties surrounding Trump’s policies continue to linger, with investors eagerly waiting for more clarity,” according to brokers.
Global oil benchmark Brent crude slipped 0.36 per cent to $80.50 a barrel.
On Friday, the BSE benchmark had declined 423.49 points or 0.55 per cent to 76,619.33, while the Nifty dropped 108.60 points or 0.47 per cent to 23,203.20. Foreign institutional investors sold equities worth Rs3,318.06 crore, according to exchange data.
