Mumbai: Stock markets rose sharply on Monday, with Sensex closing higher by 676 points and Nifty climbing 1 per cent on heavy buying in auto and consumer durables stocks, buoyed by plans for big bang reforms in the GST regime by Diwali.
The 30-share BSE Sensex jumped 676.09 points or 0.84 per cent to settle at 81,273.75. During the day, it zoomed by 1,168.11 points or 1.44 per cent to 81,765.77.
The 50-share NSE Nifty climbed 245.65 points or 1 per cent to end at 24,876.95. Intra-day, it surged 390.7 points or 1.58 per cent to 25,022.
Tracking the rally in equities, the market capitalisation of BSE-listed firms jumped by Rs 6,17,875.19 crore to Rs 4,50,96,486.46 crore ($5.16 trillion).
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers.
However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
The BSE auto index jumped 4.26 per cent to 56,233.33. Hyundai Motor India jumped 8.45 per cent, Ashok Leyland by 8.12 per cent, TVS Motor by 6.58 per cent and Hero MotoCorp by 5.9 per cent.
The Centre has proposed a 2-tier GST structure of 5 per cent and 18 per cent, besides a 40 per cent special rate on a select few items to the GoM on GST rate rationalisation.
The BSE smallcap gauge jumped 1.39 per cent while midcap index climbed 1 per cent.
Among BSE sectoral indices, auto surged 4.26 per cent, consumer durables (3.08 per cent), consumer discretionary (2.74 per cent), realty (2.19 per cent), commodities (1.96 per cent), metal (1.95 per cent) and services (1.30 per cent). IT, power, tech and BSE Focused IT were the laggards.
As many as 2,560 stocks advanced while 1,629 declined and 176 remained unchanged on the BSE.
FIIs offloaded equities worth Rs 1,926.76 crore on Thursday, according to exchange data.
On Thursday, the Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. The Nifty rose by 11.95 points or 0.05 per cent to 24,631.30.