Mumbai: Benchmark BSE Sensex on Monday rebounded by nearly 555 points on value buying in IT, auto and consumer durables shares after three straight days of losses and strong macro data.
The 30-share Sensex jumped 554.84 points or 0.70 per cent to settle at 80,364.49 with 23 of its constituents ending higher and seven lower. The index opened with gains and later surged 597.19 points or 0.74 per cent to hit a high of 80,406.84.
The 50-share NSE Nifty spurted by 198.20 points or 0.81 per cent to close at 24,625.05.
Among Sensex firms, Mahindra & Mahindra, Tata Motors, Trent, Eternal, Asian Paints and Infosys were the major gainers.
However, Sun Pharma, ITC, Hindustan Unilever and Titan were among the laggards.
India’s economy grew by a stronger-than-expected 7.8 per cent in April-June, its fastest pace in five quarters, before US President Donald Trump imposed tariffs that now cloud the outlook, threatening key exports like textiles.
The BSE midcap gauge jumped 1.64 per cent and smallcap index climbed 1.49 per cent.
Auto surged the most by 2.68 per cent, followed by consumer durables (2.07 per cent), consumer discretionary (2 per cent), capital goods (1.93 per cent), power (1.80 per cent), metal (1.68 per cent), BSE Focused IT (1.65 per cent) and BSE IT (1.62 per cent).
As many as 2,796 stocks advanced while 1,391 declined and 193 remained unchanged on the BSE.
The rupee depreciated just 1 paisa to close at an all-time low of 88.10 against the US dollar on Monday amid Indo-US trade deal uncertainties and higher dollar demand from importers.
In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in positive territory while South Korea’s Kospi and Japan’s Nikkei 225 index ended lower.
Markets in Europe were trading mostly higher.
The US markets ended lower on Friday.
Global oil benchmark Brent crude climbed 0.92 per cent to $68.10 a barrel.
FIIs offloaded equities worth Rs 8,312.66 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 11,487.64 crore, according to exchange data.
On Friday, the Sensex dropped 270.92 points or 0.34 per cent to settle at 79,809.65. The Nifty edged lower by 74.05 points or 0.30 per cent to 24,426.85.