The benchmark indices snapped a five-day losing streak and bounced back on Monday. Nifty closed around 23,750 led by realty, banking and metal names.
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
Heavyweights like HDFC Bank, along with strong performances from metal and realty stocks, kept the frontline indices firmly in positive territory.
On Nifty50, the gainers were JSW Steel, ITC, Hindalco, Trent, and HDFC Bank witnessing spike in their stock prices, buoying overall market sentiment. Hero MotoCorp, Maruti, HCL Tech, HDFC Life, and Bajaj Finserv emerged as the top losers, with their stocks experiencing declines.
Further on BSE, over 200 stocks touched their 52-week high including, Mankind Pharma, 360 ONE WAM, Coromandel International, Jupiter Life Line Hospitals, Zen Technologies, Pearl Global Industries, among others.
BSE midcap index was up marginally, while smallcap index was down 0.6%.
In terms of sectoral performances, bank, FMCG, metal, oil and gas, energy, realty up 0.5-1%, while media index shed 0.4%.
Realty was the top performer among the sectors followed by PSU Banks and BankNifty; and on the flip, Media and Auto were the laggards.
Shares of metal companies, especially steelmakers, ended percent higher after the Directorate General of Trade and Remedies (DGTR) took notice of the steel industry’s request seeking a 25 per cent safeguard duty on imports and began its investigation on the matter.
The Insurance stocks also were trading in the red as GST Council deferred a decision on relief for life, health insurance premiums.
Among the key performers, India Cements share price surged after the Competition Commission of India (CCI) cleared over Rs 7,000-crore deal.
Indigo shares rose after brokerage firm Elara Capital upgraded its rating on parent InterGlobe Aviation, raising it to a ‘buy’ from the earlier ‘sell’ call.
Hindustan Construction Company Ltd (HCC) shares tumbled after the construction player announced it divested its stake in Steiner AG.
Zomato shares fell as investors booked profits after the stock’s entry in Sensex. The stock had witnessed a bull run in the past six months as it surged close to 40 per cent.
On the back of positive global cues, the Indian market opened higher and extended the gains as the day progressed.