Strong buying in banking heavyweights and easing crude oil prices helped Indian equities end Monday on a positive note, extending the market’s recent rally. The BSE Sensex rose 521.16 points, or 0.67%, to settle at 78,285.07, while the NSE Nifty gained 159.50 points, or 0.66%, to close at 24,430.35.
The movement reflected improving investor confidence despite mixed global cues. Realty, private banks, auto and capital goods stocks led the gains, whereas IT, utilities and PSU banks were among the weaker performers.
The movement reflected improving investor confidence despite mixed global cues. Realty, private banks, auto and capital goods stocks led the gains, whereas IT, utilities and PSU banks were among the weaker performers.
Foreign institutional investors continued to support the market with fresh equity purchases, while Brent crude remained below the $72-a-barrel mark, boosting hopes of lower inflation and a healthier macroeconomic outlook for India.
Meanwhile, rupee slipped 25 paise to close at 95.43 against the US dollar as a stronger greenback weighed on emerging market currencies. Investors will also keep an eye on global market trends, crude oil prices, foreign fund flows, currency movement and the upcoming corporate earnings season, all of which are expected to influence market direction in the sessions ahead.
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