Indian markets snapped a six-day losing streak in Monday’s session amid neutral global sentiment. Benchmark Index – The Sensex rose more than 180 points, while the Nifty 50 stabilized above the 15800 level, led by auto, bank and financial stocks.
At the close, the BSE Sensex rose 180 points, or 0.34 percent, to 52,974, while the Nifty rose 50 60 points, or 0.38 points, to 15,842. Exceeding the benchmark, the broader market – mid-cap and small-cap – rose more than 1 percent each.
12-Share Banking Index – Nifty Bank jumped 475 points, or 1.4 percent, to 33597.6, with the market closing at 7 percent, supported by Bondan Bank and Bank of Baroda.
Of the 50 scrips in the Nifty, 33 advanced, 16 declined and one remained unchanged. Eicher Motors closed as a top Nifty gainer, rising about 8 percent, followed by Apollo Hospitals by more than 4 percent. While UPL and NTPC rose by about 3 per cent and SBI closed by more than 2.5 per cent.
In contrast, cement heavyweights such as Ultratech Cement and Shree Cement fell more than 3 per cent and about 2.5 per cent, respectively, after Adani Group announced the acquisition of Ambuja Cement and ACC controlling partnership from Swiss-based company Holcim.
Asian Paints, ITC and Davis Lab closed 1.5 to 2 percent lower today.
All sectoral indices except FMCG, IT and Pharma are closed in green. Nifty PSU Bank rose nearly 3 percent, followed by Nifty Real above 2.5 percent and Nifty Auto above 2 percent. While Nifty Bank, Financial and Metal each rose 0.5 to 1.5 percent each.