Sensex settles 449 points higher at 40,432; Nifty ends above 11,850

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NEW DELHI: Equity indices finished higher on Monday with the benchmark BSE sensex rising nearly 450 points led by gains in banking stocks amid positive global cues.
The 30-share BSE index surged 449 points or 1.12 per cent to close at 40,432; while the broader NSE Nifty finished 111 points or 0.94 per cent higher at 11,873.
Top gainers in the sensex pack included ICICI Bank, Nestle India, SBI, Axis Bank, HDFC and ONGC with their shares rising as much as 5 per cent.
While Bajaj Auto, TCS, M&M, Bharti Airtel, Maruti and Sun Pharma with their shares falling up to 1.86 per cent.
On the NSE platform, sub-indices NSE Bank, PSU Bank, Private Bank and financial services gained up to 4.17 per cent.
According to traders, strong second quarter (Q2) numbers and commentary from HDFC Bank led to positive sentiments on banking and financial services counters.
“Bank stocks are steadily gaining momentum after HDFC Bank’s results and markets think that other private sector banks could follow suit,” Saurabh Jain, assistant vice president at SMC Global Securities Ltd told news agency Reuters.
On the currency front, rupee settled on a flat note and fell 2 paise to 73.37 against the American currency.
Exchange data showed that foreign institutional investors sold equities worth Rs 479.59 crore on a net basis on Friday.
(With agency inputs)



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