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Markets rise for 2nd day in row, Sensex climbs over 240 points

Mumbai: Benchmark equity indices Sensex and Nifty rallied for the second straight session on Monday following encouraging domestic macroeconomic data amid a firm trend in global markets.

Fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment, traders said.

The BSE benchmark Sensex climbed 240.98 points or 0.37 per cent to settle at 65,628.14. During the day, it jumped 296.75 points or 0.45 per cent to 65,683.91.

The Nifty rose 93.50 points or 0.48 per cent to end at 19,528.80.

In two days, investors’ wealth went up by Rs 5,41,951.7 crore. The market capitalisation of BSE-listed firms stood at Rs 3,15,01,090.40 crore.

Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India.

Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.

In the broader market, the BSE midcap gauge climbed 0.96 per cent, and smallcap index gained 0.84 per cent.

Among the indices, metal jumped 2.72 per cent, commodities climbed 1.94 per cent, utilities rallied 1.91 per cent, IT gained 1.74 per cent, power (1.55 per cent), tech (1.51 per cent) and services (0.59 per cent).

FMCG and consumer durables were the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended with gains. European markets were trading in the green in early deals. US markets ended mostly in the positive territory on Friday.

American markets are shut on Monday due to the Labour Day holiday.

Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday.

GST collections grew by 11 per cent to over Rs 1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season.

Domestic passenger vehicle sales hit a record in August, led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs.

The rupee depreciated by 9 paise to close at 82.71 against the US dollar on Monday, weighed down by a surge in crude oil prices and strength of the American currency in the overseas market.

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