Mumbai, Feb 16: Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks amid a mixed trend overseas.
Besides, a largely stable rupee and global crude oil prices amid US-Iran talks supported investors’ sentiment, traders said.
Snapping its three-day decline, the 30-share BSE Sensex jumped 650.39 points, or 0.79 per cent, to close at 83,277.15.
The 50-share NSE Nifty advanced 211.65 points, or 0.83 per cent, to settle at 25,682.75.
A total of 2,565 stocks declined, while 1,747 advanced, and 184 remain unchanged on the BSE.
The market capitalisation of BSE-listed firms increased by Rs 3,11,982.13 crore to Rs 4,68,58,625.33 crore.
PowerGrid emerged as the top gainer in the Sensex pack, rising 4.45 per cent, followed by HDFC Bank, Axis Bank, NTPC, ITC, Asian Paints, Bajaj Finserv, Bharti Airtel, Adani Ports, Tata Steel, Kotak Mahindra Bank, Reliance Industries and State Bank of India.
On the other hand, Tech Mahindra, Maruti Suzuki India, Bajaj Finance, Trent, Mahindra & Mahindra, Titan, Infosys, ICICI Bank, and UltraTech Cement were the laggards.
BSE Midcap Select Index rose 0.95 per cent, while Smallcap Select Index slipped 0.16 per cent.
Among sectoral indices, Power rose the most by 2.40 per cent, followed by Utilities by 2.15 per cent, PSU Bank by 1.65 per cent, Realty by 1.44 per cent, Bankex by 1.20 per cent, BSE Top 10 Banks by 1.16 per cent, Energy by 1.13 per cent, Capital Goods by 1.05 per cent, and Private Banks Index by 1.04 per cent.
On the other hand, Consumer Discretionary and Auto were the only laggards.
The broader Asian markets ended on a mixed note. Hong Kong’s Hang Seng benchmark rose 0.52 per cent, while Japan’s Nikkei 225 index slipped 0.22 per cent. Markets in China and South Korea remained closed for the Lunar New Year holidays.
European markets are trading higher in mid-session deals. US equities ended on a mixed note on Friday.
Globally, a continued decline in the US 10-year yield following benign inflation data strengthened expectations of a Fed rate cut later this year, with investors now closely awaiting the upcoming Fed minutes for further direction, Nair said.
Meanwhile, wholesale price inflation extended upward momentum for the third straight month, at 1.81 per cent in January, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Monday.
Wholesale Price Index (WPI)-based inflation was 2.51 per cent in January last year, while in the previous month, it was 0.83 per cent.
Foreign institutional investors sold equities worth Rs 7,395.41 crore on Friday, while domestic institutional investors purchased stocks worth Rs 5,553.96 crore, according to the exchange data. (PTI)
