Markets close at nearly 5-month high levels on 2nd day on continuous foreign fund inflows

Mumbai: Benchmark indices Sensex and Nifty gained around half a per cent to close at nearly five-month high levels on Monday following continuous foreign fund inflows and firm trends in Asian and European markets.

Rising for the second straight day, the 30-share BSE Sensex climbed 317.81 points or 0.51 per cent to settle at 62,345.71, the highest closing level since December 14. During the day, it rallied 534.77 points or 0.86 per cent to 62,562.67.

The broader NSE Nifty gained 84.05 points or 0.46 per cent to end at 18,398.85 points, a level not seen since December 20, 2022.

Among the Sensex firms, Tata Motors jumped nearly 3 per cent after announcing its quarterly earnings. ITC, Tech Mahindra, Hindustan Unilever, Larsen & Toubro, Infosys, Tata Steel and Mahindra & Mahindra were the other biggest gainers. Maruti, Tata Consultancy Services, Bajaj Finance, Asian Paints, Bajaj Finserv and Nestle were the laggards.

In the broader market, the BSE smallcap gauge climbed 0.49 per cent and midcap index gained 0.47 per cent.

Among the sectoral indices, realty jumped 4.32 per cent, FMCG climbed 1.09 per cent, telecommunication (0.91 per cent), capital goods (0.70 per cent), IT (0.63 per cent), auto (0.63 per cent) and bankex (0.56 per cent). Power fell by 0.72 per cent, utilities declined by 0.57 per cent, commodities (0.07 per cent) and oil & gas (0.01 per cent).

Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth Rs 1,014.06 crore, according to exchange data.

The rupee fell 13 paise to 82.31 against the US currency on Monday, weighed down by the strength of the American currency in the overseas

market.