Mumbai: Stock markets closed higher for a fourth consecutive day on Monday driven by gains in banking and financial shares and a rally in global markets.
The 30-share BSE Sensex climbed 256.22 points or 0.31 per cent to settle at 82,445.21 as 21 of its constituents closed higher and nine declined. During the day, it jumped 480.01 points or 0.58 per cent to 82,669.
The 50-share NSE Nifty surged 100.15 points or 0.40 per cent to 25,103.20.
In the four-day rally to Monday, Nifty has gained over 560 points or 2.27 per cent while Sensex has jumped 1,707 points or 2.1 per cent.
Optimism over a new round of trade talks between the US and China also drove the markets higher.
Analysts said the RBI’s jumbo 50 basis point rate cut last week has boosted investor sentiment helping most sectoral indices close higher. Energy, IT, and financial sectors emerged as lead gainers while broader market indices outperformed benchmark indicators.
Among Sensex stocks, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti, Bajaj Finserv and NTPC were the biggest gainers.
However, Eternal, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel and Bharti Airtel were among the laggards.
The BSE smallcap gauge jumped 1.19 per cent and midcap climbed 1.03 per cent.
Among sectoral indices, utilities rallied 1.65 per cent, power (1.43 per cent), services (1.35 per cent), oil & gas (1.12 per cent), IT (1.02 per cent) and energy (0.93 per cent).
Realty emerged as the only laggard.
As many as 2,798 stocks advanced while 1,409 declined and 128 remained unchanged on the BSE.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,009.71 crore on Friday, according to exchange data.
Global oil benchmark Brent crude went up 0.30 per cent to $66.67 a barrel.