India's benchmark equity indices ended higher for the second session in a row on Monday.
The NSE Nifty 50 closed 114.45 points or 0.47% higher at 24,461.15, while the BSE Sensex ended 294.85 points or 0.37% up at 80,796.84. Intraday, the Nifty rose as much as 0.74% to 24,526.40, while the Sensex jumped 0.68% to 81,049.03.
After a strong opening, the Nifty remained rangebound throughout the day, according to Aditya Gaggar, director of Progressive Shares Brokers Pvt. "The real momentum was witnessed in the broader markets, where Midcap and Smallcap indices advanced significantly, outperforming the frontline Index."
HDFC Bank Ltd., Mahindra & Mahindra Ltd., ITC Ltd., Reliance Industries Ltd., and Adani Ports and Special Economic Zone Ltd. led the gains in the Nifty.
Shares of Kotak Mahindra Bank Ltd., State Bank of India, Axis Bank Ltd., ICICI Bank Ltd. and JSW Steel Ltd. dragged the index the most.
On the NSE, 13 sectoral indices ended higher out of 15, with the Nifty Auto, Defence and Oil & Gas rising the most.
The BSE MidCap and SmallCap ended 1.45% and 1.23% higher respectively.
Around 20 sectors advanced and one declined out of 21. The BSE Services rose the most, while the BSE Bankex declined the most.
Market breadth has favoured the buyers over sellers as 2,562 stocks advanced and 1,460 stocks declined on the BSE.
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