Markets bounce back: Sensex surges 650 as banking & power stocks spark rally
image for illustrative purpose
Mumbai: Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks amid a mixed trend overseas.
Besides, a largely stable rupee and global crude oil prices amid US-Iran talks supported investors’ sentiment, traders said. Snapping its three-day decline, the 30-share BSE Sensex jumped 650.39 points, or 0.79 per cent, to close at 83,277.15. The 50-share NSE Nifty advanced 211.65 points, or 0.83 per cent, to settle at 25,682.75. A total of 2,565 stocks declined, while 1,747 advanced, and 184 remain unchanged on the BSE.
The market capitalisation of BSE-listed firms increased by Rs 3,11,982.13 crore to Rs 4,68,58,625.33 crore (USD 5.17 trillion).
Tech Mahindra, Maruti Suzuki India, Bajaj Finance, Trent, Mahindra & Mahindra, Titan, Infosys, ICICI Bank, and UltraTech Cement were the laggards.
