Equity benchmarks Sensex and Nifty saw a robust recovery on Monday, surging nearly 2 per cent, driven by strong buying in Reliance Industries and a positive trend in Asian markets.
The 30-share BSE Sensex rose by 1,240.90 points, or 1.76 per cent to close at 71,941.57. Throughout the day, it reached a high of 72,010.22, marking a gain of 1,309.55 points, or 1.85 per cent. The Nifty also climbed 385 points, or 1.80 per cent to reach 21,737.60.
Reliance Industries played a significant role in the market rally, with its stock surging nearly 7 per cent. Other major gainers among Sensex firms included Tata Motors, Power Grid, Larsen and Toubro, Kotak Mahindra Bank, NTPC, Titan, and UltraTech Cement. On the flip side, ITC, Infosys, JSW Steel, Tech Mahindra, and Tata Consultancy Services were among the laggards.
In the broader Asian markets, Seoul, Tokyo, and Hong Kong closed in positive territory, while Shanghai ended lower. European markets were mostly trading lower, and the US markets had a mixed performance on Friday.
Global oil benchmark Brent crude saw a marginal decline of 0.18 per cent, settling at USD 83.40 per barrel. The markets were closed on Friday in observance of Republic Day.
In the previous session on Thursday, the BSE benchmark had declined by 359.64 points, or 0.51 per cent, closing at 70,700.67 points, and the Nifty fell by 101.35 points, or 0.47 per cent, settling at 21,352.60 points. Foreign institutional investors (FIIs) were observed offloading equities worth Rs 2,144.06 crore on Thursday, according to exchange data.
(With PTI inputs)
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