Bourses rebound as Sensex jumps 180 pts, banking, auto stocks shine

Mumbai: Benchmark indices Sensex and Nifty ended their six-day losing run on Monday on the back of buying in banking, auto and power stocks amid mixed trends in global equities.

The 30-share BSE Sensex rebounded by 180.22 points or 0.34 per cent to settle at 52,973.84 points in a see-saw trade.

The index opened higher and soared over 634 points to a day's high of 53,428.28 in the first half of the trade. However, profit booking in IT and select heavyweight counters capped the gains dragging the index down by around 800 points to a low of 52,632.48 points.

The broader NSE Nifty went up by 60.15 points or 0.38 per cent to finish at 15,842.30, logging its first gain in seven sessions. Sensex and Nifty tanked over 5 per cent in the previous six sessions due to heavy selling by FPIs over inflation concerns.

Gains in HDFC twins, Kotak Bank, ICICI Bank and SBI helped indices end their losing streak. HDFC rose by 1.96 per cent while HDFC Bank by 1.1 per cent. SBI advanced by 2.27 per cent, Kotak Bank by 1.83 per cent, IndusInd Bank by 1.61 per cent and ICICI Bank by 0.85 per cent.

NTPC rose the most by 3.05 per cent among Sensex shares, followed by Bajaj Finance which gained 2.37 per cent. Among auto stocks, Maruti advanced by 2.14 per cent and M&M by 1.57 per cent.

However, losses in IT and select FMCG counters restricted the rally in shares. Ultratech Cement was the biggest loser, declining by 3.01 per cent. Asian Paints dropped 2.15 per cent while ITC declined 1.78 per cent. IT major TCS dropped 1 per cent, Tech Mahindra by 1.22 per cent and Infosys by 0.94 per cent.

Shares of ACC and Ambuja Cements were in huge demand after Gautam Adani's group clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for $10.5 billion. ACC shares rallied 3.7 per cent to end at Rs 2,192 while Ambuja Cements gained 2.59 per cent to close at Rs 368.10.

Adani group companies also posted gains, led by Adani Enterprises which soared 2.53 per cent to Rs 2,107.05. Adani Power jumped 4.99 per cent.

Broader markets outperformed the benchmark indices.

BSE MidCap rose by 1.51 per cent to 22,145.10 while BSE SmallCap advanced 1.15 per cent to 25,605.99 points.

Among sectoral indices, BSE Telecom spurted 2.85 per cent, Auto by 2.2 per cent, Utilities by 2.17 per cent, Power by 2.1 per cent, Consumer Discretionary Goods & Services by 1.44 per cent, Finance by 1.45 and Bankex by 1.43 per cent.

On the other hand, BSE IT, Teck and FMCG lost up to 0.58 per cent.

Next Story
Share it