Sensex, Nifty Extend Gains For Third Day; Tech, Metal Stocks Shine
Indian equity benchmarks on Monday extended their winning run for the third straight session, led by gains in technology and metal stocks. The domestic indices continued the upward move, tracking gains in Asian markets today, following a sharp Wall Street surge on Friday.
Market participants remained positive as easing crude oil prices tempered inflation fears. Brent crude traded at $113 barrel today.
The 30-share BSE Sensex jumped 433 points or 0.82 per cent to close at 53,161 today, while the broader NSE Nifty moved 133 points or 0.85 per cent up to settle at 15,832.
Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 rose 1 per cent lower and small-cap moved 2.04 per cent higher.
All of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty IT and Nifty Metal outperformed the platform by rising as much as 2.05 per cent and 1.52 per cent, respectively.
On the stock-specific front, ONGC was the top Nifty gainer as the stock soared 3.31 per cent to Rs 141.90. Coal India, L&T, HCL Tech and UPL were also among the gainers.
The overall market breadth stood positive as 2,387 shares advanced while 1,045 declined on BSE.
On the 30-share BSE index, L&T, HCL Tech, Infosys, Tech Mahindra, Bharti Airtel, IndusInd Bank, Asian Paints, Tata Steel, UltraTech Cement, SBI, ITC and Sun Pharma were among the top gainers.
Shares of Life Insurance Corporation of India (LIC), the country's biggest insurer and largest domestic financial investor, rose 0.45 per cent to close at Rs 664.65.
In contrast, Titan, Reliance Industries and Kotak Mahindra Bank finished in the red.
Also, food delivery firm Zomato slid as much as 6.40 per cent to settle at Rs 65.85 following a deal to buy local grocery-delivery startup Blinkit for Rs 4,447 crore ($567.94 million).
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