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New Delhi: Benchmark indices Sensex and Nifty ended higher, taking their winning run to the fourth day on Monday, helped by buying in blue-chip bank stocks and lower crude oil prices. Fresh foreign fund inflows also added to the optimistic trend in domestic equity market.
The 30-share BSE Sensex jumped 521.16 points, or 0.67 per cent, to settle at 78,285.07. During the day, it surged 634.15 points, or 0.81 per cent, to 78,398.06. The 50-share NSE Nifty climbed 159.50 points, or 0.66 per cent, to end at 24,430.35. In four trading days, the BSE benchmark has jumped 1,806.4 points, or 2.36 per cent, and the Nifty surged 564.6 points, or 2.36 per cent.
From the Sensex pack, HDFC Bank climbed 3.59 per cent, the most among the 30-firms. Mahindra & Mahindra, Bharat Electronics,Reliance Industries, ICICI Bank, and Maruti were also among the winners.
Kotak Mahindra Bank, Tata Consultancy Services, Bajaj Finserv, and Power Grid were among the laggards. Brent crude, the global oil benchmark, declined 0.82 per cent to USD 71.53 per barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,355.33 crore on Friday, according to exchange data.
“Indian equities traded with a positive bias despite mixed global cues, supported by stable crude prices. Continued softness in crude would support inflation, the current account balance, OMC profitability, and overall macro stability,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
Globally, profit-booking in crowded AI-led trades impacted the global market while India could perform well led by large caps due to improvement in FIIs inflows trend, he added.
In Asian markets, Hong Kong’s Hang Seng index settled higher, while South Korea’s Kospi and Japan’s Nikkei 225 index and Shanghai’s SSE Composite index ended lower. Markets in Europe were trading on a mixed note. US markets were closed on Friday due to the country’s Independence Day celebrations.
On Friday, the Sensex climbed 261.79 points, or 0.34 per cent, to settle at 77,763.91. The Nifty went up 95.15 points, or 0.39 per cent, to end at 24,270.85.
(With PTI Inputs)
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