Indian equities moved higher on Monday as a relief rally enveloped domestic and global markets alike. The S&P BSE Sensex settled 560 points, or 0.77 per cent, higher at 73,649, while the Nifty50 ended at 22,336, up 189 points or 0.86 per cent.
Axis Bank, L&T, Ultratech Cement, Bajaj Finance, Wipro, ICICI Bank, Nestle India, SBI, Infosys, Tech M, and Asian Paints were the top gainers on the 30-share index, adding 1-3 per cent.
On the downside, NTPC, HDFC Bank, and JSW Steel were the only top laggards, down up to 2 per cent.
In the broader markets, the BSE MidCap index gained 0.9 per cent, while the BSE SmallCap index advanced over 1.3 per cent.
Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent.
Shares of Vodafone Idea slide 6 per cent on the last day of Rs 18,000 crore FPO. The company’s FPO has been oversubscribed by 3.40 times as of 02:30 PM on Friday. The subscription was led by Qualified Institutional Buyers (QIBs) subscribing the issue 8.71 times.
Global Cues
In Asia, all key benchmark indices in the region were ruling in the positive territory. The gains were led by ASX200 of Australia, and Hang Seng of Hong Kong, which were up 1 per cent each.
Futures of the S&P 500, meanwhile, rose 0.3 per cent. Nasdaq 100 futures gained 0.4 per cent, while those for the Dow Jones Industrial Average added 0.3 per cent.
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