India’s stock markets rallied heavily on Monday after a subdued activity for last seven in eight sessions with Sensex surging over 600 points and Nifty reclaiming 10,400-mark under normal liquidity with all sectors finishing in green barring Nifty PSU Bank index. The S&P BSE Sensex gained 610.8 points or 1.83% to conclude the day at 33,917.94 while NSE Nifty added 194.55 points or 1.9% to settle at 10,421.4 with shares of India’s FMCG giant ITC emerging as the major booster in uplifting the key equity indices followed by a sustained rally in shares of heavyweight companies such as HDFC, Reliance Industries, ICICI Bank, Infosys, Axis Bank, HDFC Bank, NTPC, L&T and Bharti Airtel.
Shares of NTPC (up 4.61%), Bharti Airtel (up 5.08%), ITC (up 4.34%), Tata Motors (up 3.18%), Axis Bank (up 2.31%), Yes Bank (up 3.48%), Tata Steel (up 2.88%), ICICI Bank (up 2.87%), Hero MotoCorp (up 3.42%), Adani Ports (up 3.09%), ONGC (up 2.64%), IndusInd Bank (up 2.06%), HDFC (up 2.01%), Wipro (up 2.09%), RIL (up 1.97%), Infosys (up 1.73%), HUL (up 2.03%) and Maruti Suzuki (up 1.74%) were the lead gainers among the Sensex components. Today, the 30-share barometer Sensex recorded the biggest intraday gain in more than a year’s time.
A market-wide upsurge was observed in Indian equities on Monday as all the sectoral indices except Nifty PSU Bank index ended in green with Nifty FMCG, Nifty Metal, Nifty Private Bank, Nifty Bank, Nifty Auto, Nifty Financial Services leading the charge rising up to 2%. Apart from the blue-chip stocks, shares of most of the mid-cap and small-cap companies also gained on the lines of large-cap stocks, as the broader market indices of NSE, Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty Mid100 Free, Nifty Small100 Free rose 0.8-2%. The volatility indicator on NSE, India Vix lost 0.7% to end at 14.42.
Among the PSU bankers, shares of IDBI Bank, Andhra Bank, Central Bank of India, Union Bank of India, UCO Bank faced the major jolt with stocks of IDBI Bank and Andhra Bank dropping up to 9%. During the day, the benchmark Sensex rose 655.34 points to a day’s high of 33,962.48 whereas the wider share indicator Nifty 50 jumped 206.8 points to mark the day’s high of 10,433.65.