Bourses jump nearly 1% amid sharp gains in metal, bank stocks

Mumbai: Equity benchmark Sensex rallied nearly 1 per cent to re-visit the 59,000-mark on Monday, propelled by sharp gains in metal, banking and capital goods stocks amid a weak trend in global equities.

In a largely range-bound trade, the BSE benchmark rose 442.65 points or 0.75 per cent to settle at 59,245.98. During the day, it jumped 504.92 points or 0.85 per cent to 59,308.25. The NSE Nifty advanced 126.35 points or 0.72 per cent to 17,665.80.

Intense buying in index majors Reliance Industries, Sun Pharma and ITC and an appreciating rupee also bolstered the sentiment, traders said.

Sun Pharma was the biggest gainer in the Sensex pack, rising 1.81 per cent, followed by ITC, NTPC, RIL, Larsen & Toubro, Tata Steel, HCL Technologies and ICICI

Bank.

In contrast, HUL, Asian Paints, PowerGrid, Wipro, UltraTech Cement and Nestle were the laggards, slipping up to 1.51 per cent.

In the broader market, the BSE smallcap gauge climbed 0.89 per cent and the midcap index gained 0.46 per cent.

Among the BSE sectoral indices, metal jumped 2.04 per cent, capital goods (1.07 per cent), telecom (0.93 per cent), basic materials (0.91 per cent), bank (0.89 per cent), realty (0.73 per cent), and finance (0.71 per cent).

Meanwhile, the rupee appreciated 9 paise to close at 79.78 against the US dollar on Monday.

The international oil benchmark Brent crude jumped 2.81 per cent to $95.63 per barrel. Foreign institutional investors (FIIs) offloaded shares worth a net Rs 8.79 crore on Friday, as per exchange data.