Sensex jumps over 500 points; Nifty reaches fresh peak

Sensex jumps over 500 points; Nifty reaches fresh peak Sensex and Nifty 50 recovers as Covid-19 cases fall while investor sentiment improves (Representational Image source: PTI)

Mumbai: Equity benchmark Sensex rallied around 515 points on Monday while the NSE Nifty closed at a fresh peak, led by gains in RIL, ICICI Bank and HDFC Bank amid a mixed trend in global markets. The key equity indices surged nearly one per cent on Monday with metal and banking stocks leading the rally as India reported a fall in fresh Covid-19 infections.

A steady decline in daily COVID-19 caseload also strengthened investor sentiment, brokers said.

Read More: Coronavirus India Update: 1.52 lakh new cases reported, lowest in 50 days

The 30-share BSE Sensex ended 514.56 points or 1.00 per cent higher at 51,937.44, and the broader NSE Nifty surged 147.15 points or 0.95 per cent to its fresh closing record of 15,582.80.

Reliance was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.

ICICI Bank surged by 3 per cent and index heavyweight Reliance Industries was up by 2.8 per cent to Rs 2,128.60.

ITC, Bharti Airtel, Dr Reddy’s, Divi’s lab and Maruti Suzuki too traded in the positive terrain. However, Mahindra & Mahindra skidded by 4.3 per cent to close the day at Rs 809. per share

Meanwhile, Infosys, IndusInd Bank, L&T, and Sun Pharma were among the laggards.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal moving up by 2.1 per cent, realty by 1.4 per cent, FMCG, financial service and private bank by 1 per cent each.

Nifty PSU bank tumbled by 0.7 per cent. Among stocks, JSW Steel advanced by 3.2 per cent to Rs 712.20 per share while Tata Steel closed 2.1 per cent higher and Hindalco rose 1.6 per cent.

Read Also: Uniform pricing policy needed for COVID-19 vaccines across nation: SC tells Centre

India reported the lowest daily new coronavirus infections in 50 days with 1,52,734 cases, taking the tally to 2,80,47,534 on Monday, while the active caseload declined to 20,26,092, the Health Ministry said.

Elsewhere in Asia, bourses in Shanghai and Seoul ended on a positive note, while Tokyo was in the red. Hong Kong stocks rose by 0.09 per cent as China’s three-child policy boosted health firms. South Korea’s Kospi was up by 0.48 per cent ahead of exports data. But Japan’s Nikkei fell 0.7 per cent on profit booking.

Equities in Europe were trading on a mixed note in mid-session deals. Meanwhile, international oil benchmark Brent crude surged 1.08 per cent to trade at USD 69.46 per barrel.

(With inputs from PTI and ANI)

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