Kamal Ghorui
Benchmark indices Sensex and Nifty staged a sharp rebound on Monday after early losses, supported by a correction in crude oil prices and strong buying in banking stocks.The 30-share BSE Sensex jumped 787.30 points, or 1.07%, to settle at 74,106.85. During the session, it climbed as much as 887.91 points, or 1.21%, to 74,207.46.The 50-share NSE Nifty advanced 255.15 points, or 1.12%, to close at 22,968.25, nearing the 23,000 mark.
Nifty50 top gainers
- Trent (7.98%)
- Shriram Finance (4.09%)
- Axis Bank (3.96%)
- Adani Enterprises (3.71%)
- Titan Company (3.64%)
- SBI Life (3.55%)
- Larsen & Toubro (3.18%)
- UltraTech Cement (3.16%)
- Bajaj Finance (2.91%)
- InterGlobe Aviation (2.84%)
Nifty50 top losers
- Reliance Industries (-3.40%)
- ONGC (-1.87%)
- Max Healthcare (-1.38%)
- Eicher Motors (-0.81%)
- JSW Steel (-0.68%)
BSE Sensex top gainers
- Trent (7.98%)
- Axis Bank (3.96%)
- Titan Company (3.64%)
- Larsen & Toubro (3.18%)
- UltraTech Cement (3.16%)
- Bajaj Finance (2.91%)
- InterGlobe Aviation (2.84%)
- HDFC Bank (2.68%)
- Kwality Wall’s (2.23%)
BSE Sensex top losers
- Reliance Industries (-3.40%)
Brent crude, the global oil benchmark, declined 0.71% to USD 108.3 per barrel, offering some relief to markets.Asian markets ended mostly higher, with South Korea’s Kospi and Japan’s Nikkei 225 closing in the green, while Hong Kong and Shanghai markets remained shut for a holiday.“Domestic equities staged a strong rally as value buying gained traction across the board. Crude prices softened marginally on reports of ceasefire efforts, while encouraging provisional banking data supported interest in rate-sensitive segments,” said Vinod Nair, Head of Research, Geojit Investments Limited.He added that overall risk appetite remains cautious amid inflation concerns and potential disruptions to global trade.“Today’s recovery was driven primarily by a modest pullback in crude oil prices, with Brent slipping below the USD 105 mark amid reports of a proposed temporary ceasefire from Middle East mediators. Additionally, domestic institutional investors continued to provide stability at lower levels, absorbing selling pressure and supporting the broader market structure,” said Ponmudi R, CEO of Enrich Money.Foreign Institutional Investors (FIIs) sold equities worth Rs 9,931.13 crore on Thursday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 7,208.41 crore, as per exchange data.
