NEW DELHI: Equity indices finished on a positive note for the fourth straight session on Monday with the benchmark BSE sensex rallying over 850 points, led by gains in financial, metal and auto stocks.
The 30-share BSE index surged 879 points or 2.71 per cent to close at 33,304; while the broader NSE Nifty finished 256 points or 2.57 per cent higher at 9,826.
Top gainers in the sensex pack included Bajaj Finance, Titan, Tata Steel, SBI, M&M, HDFC and IndusInd Bank with their shares rising as much as 10.41 per cent. 25 out of 30 stocks finished in gree.
While Nestle India, Ultra Cemco, Sun Pharma, Hero MotoCorp and L&T were the only losers.
On the NSE platform, Nifty PSU Bank, Financial Services and Metal gained as much as 7.57 per cent.
Domestic investors tracked positive sentiment in the global market as gradual re-opening of businesses world over fuelled hopes of economic recovery.
“The banking sector has under performed the most in the past one month and the starting up of the economy is giving confidence to investors,” Naveen Kulkarni, chief investment officer, Axis Securities told news agency Reuters.
The home ministry on Saturday said ‘Unlock-1’ will be initiated in India from June 8 under which the nationwide lockdown effectuated on March 25 will be relaxed to a great extent, including opening of shopping malls, restaurants and religious places.
According to health ministry data, number of coronavirus cases in India crossed 1.90 lakh and the death toll climbed close to 5,400.
Meanwhile, the rupee appreciated 8 paise to provisionally close at 75.54 against the US dollar supported by optimism over the government’s reopening plan for the domestic economy.
On a net basis, foreign portfolio investors bought equities worth Rs 1,460.71 crore in the capital market on Friday, provisional exchange data showed.
(With agency inputs)