Markets snap two-day falling streak aided by gains in IT, oil & gas and telecom stocks

Mumbai: Benchmark stock indices Sensex and Nifty snapped the two-day falling streak on Monday, helped by gains in IT, oil and gas and telecom shares amid optimism in the global markets.

The 30-share BSE Sensex rose by 99.08 points or 0.16 per cent to settle at 62,724.71. During the day, it gained 179.26 points or 0.28 per cent to 62,804.89

The NSE Nifty advanced 38.10 points or 0.21 per cent to end at 18,601.50.

From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers.

Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.

In Asian markets, Tokyo and Hong Kong ended in the green, while Seoul and Shanghai settled lower. Equity markets in Europe were trading in positive territory. The US markets ended in positive territory on Friday.

The rupee gained 4 paise to settle at 82.43 against the US dollar on Monday, supported by easing crude oil prices and a positive trend in domestic equities.

Global oil benchmark Brent crude declined 2.54 per cent to $72.91 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 308.97 crore on Friday, according to exchange data.

“The domestic indices are moving with caution as investors step up to a data-loaded week both in the domestic and global markets.