Sensex jumps 760 points, Nifty finishes at 16,279

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Sensex, Nifty Stock Quotes Updated Today: The benchmark BSE and National Stock Exchange (NSE) stock indexes ended up more than 1.4% on Monday, driven by gains in shares of IT, some private banks and Reliance Industries amid positive global indices.

The S&P BSE Sensex gained 760.37 (1.41%) to end at 54,521.15, while the Nifty 50 rose 229.30 (1.43%) to settle at 16,278.50.

In the Sensex pack, IndusInd Bank, Infosys, Tech Mahindra, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank and UltraTech Cement were the main winners.

By contrast, Dr Reddy’s labs, HDFC Bank, Mahindra and Mahindra, Nestle India, Maruti Suzuki India, Hindustan Unilever, Housing Development Finance Corporation (HDFC) and NTPC lagged behind.

Among individual stocks, Bharat Electronics (BEL) climbed 3.75% to Rs 254.65 apiece after the company’s consolidated net profit soared more than 1,400% year on year to Rs 366.33 crore for the June quarter.

Among the NSE’s sector indices, Nifty IT jumped 3.17%, Nifty PSU Bank gained 2.77%, Nifty Metal rose 2.49% and Nifty Private Bank rose 2.29%.

In the broader market, the S&P BSE MidCap Index ended at 23,194.72, up 340.10 points (1.49%), while the S&P BSE SmallCap Index came in at 26,137. .13, up 357.57 (1.39%). On NSE, the volatility index or India VIX fell 2.48% to 17.16.

“Strong U.S. retail sales data reduced concerns of an aggressive rate hike above 75 basis points, bringing much-needed optimism to global equities. The European Central Bank, during its meeting this week, is expected to raise interest rates for the first time to contain record inflation.On the home front, while IT and banking stocks have been bottom fishing, real estate stocks have accumulated gains through improved business prospects,” said Vinod Nair, research manager at Geojit Financial Services.

Global market

– Reuters entry

Global stocks, US futures, oil prices and bond yields all rose on Monday as bets reduced on the Federal Reserve’s latest rate hike next week and pledges to support China’s economy boosted morale.

European stocks started the week up more than 1% and the euro moved away from parity at $1.0138 with a big week ahead.

The pan-European STOXX 600 index was up 1.1% at 0925 GMT after posting a 0.8% drop last week. Monday’s gains were broad-based, with miners, energy stocks and banks leading the upside.

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