Sensex Surges Over 400 Points, Closes Above 41,000 For First Time In Two Weeks

The S&P BSE Sensex and NSE Nifty 50 indexes extended gains for the third consecutive day on the back of strong global cues after the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies. Meanwhile, Prime Minister Boris Johnson winning a resounding election in United Kingdom on Friday also boosted investor sentiment globally. Axis Bank, Vedanta. State Bank of India, Maruti Suzuki and Tata Steel were among the top movers in the Sensex.

The Sensex ended 428 points or 1.05 per cent to 41,009 and the Nifty 50 index was up 0.9 per cent or 116 points at 12,087. This is the biggest single-day gains in point terms since November 25. The BSE mid cap index ended 0.9 per cent higher at 14,830 and the BSE Small Cap index gained 0.5 per cent at 2,464.

All the sectoral indices ended in the green, led by the S&P BSE Metal index's 2 per cent gain. The S&P BSE Realty, Capital Goods, Bankex, Auto, Finance and Basic Materials indexes also rose 0.9-1.4 per cent each.

Axis  Bank was top gainer in the Nifty 50 basket of shares, rising 4.1 per cent to Rs 752. Hindalco, Vedanta, State Bank of India, IndusInd Bank were among the significant gainers on the NSE.

On the flip side, Dr Reddy's Labs, Bharti Airtel, Zee Entertainment, Kotak Mahindra Bank and UPL were among the losers.

The overall market breadth was positive as 1,546 shares were advancing while 987 were declining on the BSE.