Equity benchmarks closed over 1 per cent higher on Monday amid positive trend in global markets and buying in Reliance Industries and IT counters.
The 30-share BSE Sensex closed at 60,747.31, up 846.94 points or 1.41 per cent. During the day, it rose 989.04 points, or 1.65 percent, to 60,889.41. The broader NSE Nifty climbed 241.75 points, or 1.35 per cent, to end at 18,101.20.
From the Sensex pack, Mahindra & Mahindra, HCL Technologies, IndusInd Bank, Tata Consultancy Services, Bharti Airtel, Tech Mahindra, Wipro, Infosys, Reliance Industries and Axis Bank were the major gainers.
In the latter days, there was heavy demand at the IT counters ahead of TCS earnings. Titan, Bajaj Finserv and Maruti were the only laggards.
In other parts of Asia, the stock markets of Seoul, Shanghai and Hong Kong closed in the green. Equity exchanges in Europe were trading higher in mid-session deals. Markets in the US closed sharply on Friday.
“Wall Street climbed in anticipation of a less aggressive U.S. Fed as wage growth slowed and service activity contracted, betting that inflation is coming down. In addition, a larger-than-expected increase in December payrolls raised the prospect of a soft landing for the US economy.
“The gains were also absorbed by the domestic market, with the IT sector being the biggest gainer ahead of the earnings release as a favorable US economy boosted sectoral optimism,” said Vinod Nair, Head of Research, Geojit Financial Services.
International oil benchmark Brent crude jumped 2.67 per cent to $80.67 per barrel. Foreign institutional investors (FIIs) sold shares worth Rs 2,902.46 crore on Friday, according to exchange data.
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