The S&P BSE Sensex ended 709.96 points higher at 61,764.25, while the NSE Nifty 50 rose 195.40 points to settle at 18,264.40. Both benchmark indices posted their biggest single-day gain in over a month.
By Koustav DasBenchmark stock market indices rebounded sharply on Monday after a strong rally in shares of banks and financial services.
The S&P BSE Sensex ended 709.96 points higher at 61,764.25, while the NSE Nifty 50 rose 195.40 points to settle at 18,264.40. Both benchmark indices posted their biggest single-day gain in over a month.
Broader market indices also saw significant gains as the overall mood on Dalal Street improved in the wake of positive global cues.
Most of the major sectoral indices advanced, with Nifty Bank, Nifty Financial Services, Nifty Auto and Nifty Realty gaining above 1 per cent. It may be noted that the recovery in financial services stocks contributed the most to today’s strong rebound in domestic markets.
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The top five gainers on the Nifty 50 were IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC. On the other hand, the top drags on the index were Coal India, Adani Enterprises, Sun Pharma, Dr Reddy’s Laboratories and Britannia.
The positive mood in the domestic markets comes after an improvement in global cues, following positive US jobs data for April, which eased concerns over the health of the world’s strongest economy.
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