Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
Domestic markets continued their rally on Monday and ended around 1 per cent higher, driven by strong buying in financial counters. The S&P BSE Sensex moved 364.36 points or 0.95 per cent higher to hit the 38,799.08 mark while NSE Nifty jumped 94.85 points or 0.83 per cent to 11,466.45 levels.
HDFC Bank, HDFC, ICICI Bank and Kotak Bank contributed the most to the indices. Apart from them, Kotak Mahindra Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by IndusInd Bank, Bajaj Finance, Bajaj Finserv, Maruti and SBI.
On the other hand, PowerGrid, M&M, Tech Mahindra, Titan, NTPC, Bajaj Auto and UltraTech Cement were among the laggards.
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Similar to the benchmarks, broader markets too ended on the higher side with MidCap and SmallCap closing 0.5 per cent and 1.6 per cent up respectively.
According to traders, domestic bourses followed the positive trend in global equities, with strong buying in financial stocks lifting the key indices.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant gains.
Stock exchanges in Europe too opened on a strong note.
Sustained foreign fund inflows also boosted investor sentiment here, traders said.
Foreign institutional investors bought equities worth Rs 410.16 crore on a net basis on Friday, exchange data showed.
In the forex market, the rupee soared 52 paise to settle at 74.32 against the US dollar.
Meanwhile, global oil benchmark Brent crude was trading 0.71 per cent higher at USD 45.25 per barrel.
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