Benchmark indices Sensex and Nifty snapped a five-day losing streak as international crude oil prices fell more than 8.5 per cent to around USD 82 a barrel. The 30-share BSE Sensex closed 776.01 points or 1.02 per cent higher at 76,835.78. During the day, the benchmark hit a high of 76,901.51 and a low of 76,517.85, gyrating 383.66 points. The 50-share NSE Nifty was up by 228.50 points or 0.96 per cent and ended the session at 23,995.95. The broader market too ended the session in the green. While the BSE MidCap Select Index gained 298.40 points or 1.65 per cent, the BSE SmallCap Select Index dropped 147.13 points or 1.71 per cent.
Among sectoral indices, Nifty IT and Nifty Realty witnessed firm buying, followed by Nifty Auto.
“Investors cheered the sharp fall in global crude oil prices, which fuelled a major rally in Indian equities after a 5-session fall. Recovery in global markets and appreciation in the rupee against the dollar prompted strong investor buying in IT, banking & realty stocks. Also, markets were in a continuous downfall last week, and with no major news on the conflict from West Asia over the past few days, buying resumed in beaten-down stocks,” said Ankur Punj, MD & Business Head at Equirus Wealth.
Top gainers and losers
Among the 30-Sensex firms, Eternal, Indigo, Infosys, Bajaj Finance, and Asian Paints were the major gainers, with Eternal gaining 5.63 per cent today. On the flip side, HDFC Bank and Axis Bank were among the laggards. The shares of HDFC Bank fell 0.41 per cent today.
Today, shares of 28 out of 30 Sensex companies closed in the green, while the remaining 2 closed in the red. On the other hand, shares of 43 out of 50 Nifty 50 companies also closed in the green, with gains, while the 7 others closed in the red.
Rupee surges 61 paise
The rupee appreciated sharply by 61 paise to close at 95.92 (provisional) against the US dollar on Monday, driven by a steep correction in crude oil prices after the US and Iran paused the war in West Asia, triggering hopes of easing global trade tensions.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
