Mumbai: Shrugging off geopolitical concerns amid escalating tensions between Israel and Iran, stock markets rebounded by nearly 1 per cent on Monday following value buying in oil & gas and IT shares and gains in other Asian markets as Brent crude oil prices dropped.
The 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15 with 27 of its constituents ending in the green and three with losses. During the day, it surged 747.22 points or 0.92 per cent to 81,865.82.
The 50-share NSE Nifty climbed 227.90 points or 0.92 per cent to 24,946.50.
Among Sensex firms, UltraTech Cement rose the most by 2.39 per cent. Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the gainers.
Tata Motors, Adani Ports and Sun Pharma were the laggards.
The BSE midcap gauge jumped 0.93 per cent and smallcap index climbed 0.38 per cent.
All BSE sectoral indices ended higher. IT jumped 1.50 per cent, followed by BSE Focused IT (1.50 per cent), tech (1.35 per cent), oil & gas (1.22 per cent), realty (1.21 per cent), services (1.10 per cent) and consumer durables (1.05 per cent).
The rupee rose 7 paise to 86.04 against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,263.52 crore on Friday, according to exchange data. In the previous two sessions, the BSE Sensex lost 1,396.54 points or 1.69 per cent, and the Nifty dropped 422.8 points or 1.68 per cent.