Mumbai, Oct 27: Benchmark BSE Sensex jumped by nearly 567 points and broader Nifty closed above 25,900 on Monday following a sharp rally in global markets, as softer-than-expected US inflation reignited hopes of Fed rate cuts this year.
The 30-share BSE Sensex jumped 566.96 points or 0.67 per cent to settle at 84,778.84. During the day, it surged 720.2 points or 0.85 per cent to 84,932.08.
The 50-share NSE Nifty climbed 170.90 points or 0.66 per cent to 25,966.05.
Prospects of a US-China trade deal and fresh foreign fund inflows also added to the markets’ optimism, analysts said.
Among Sensex firms, Bharti Airtel, Reliance Industries, Eternal, State Bank of India, Tata Steel and HDFC Bank were the major gainers.
However, Kotak Mahindra Bank fell the most by 1.74 per cent after its September quarter results. The private lender reported an 11 per cent decline in consolidated net profit for the September quarter.
Bharat Electronics, Infosys and Bajaj Finance were also among the laggards.
PSU banks index outperformed, rallying 2.76 per cent, whereas defence and media shares fell due to profit booking.
The BSE midcap gauge climbed 0.72 per cent and smallcap index went up by 0.51 per cent.
Telecommunication surged 2.37 per cent, oil & gas jumped 1.50 per cent, energy (1.44 per cent), realty (1.42 per cent), teck (0.88 per cent), commodities (0.79 per cent) and services (0.66 per cent).
Healthcare emerged as the only laggard.
A total of 2,178 stocks advanced while 2,114 declined and 210 remained unchanged on the BSE.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled sharply higher.
Markets in Europe were trading on a mixed note. US markets ended in positive territory on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 621.51 crore on Friday, according to exchange data.
The rupee plunged 36 paise to close at 88.19 against the US dollar on Monday, as broad strength in crude oil prices and month-end dollar demand from importers weighed on investor sentiment.
At the interbank foreign exchange, the rupee opened at 87.87 against the greenback and fell to an intra-day low of 88.31 and a high of 87.86. It finally closed the day at 88.19, down 36 paise from its previous close. (PTI)
