Sensex jumps 650 points as markets rebound nearly 1% on buying in power, banking stocks

Mumbai: Equity benchmark indices Sensex and Nifty rebounded sharply by nearly 1 per cent on Monday, driven by strong buying in power, banking, and financial stocks amid a mixed trend overseas.

Snapping its three-day decline, the 30-share BSE Sensex jumped 650.39 points, or 0.79 per cent, to close at 83,277.15.

The 50-share NSE Nifty advanced 211.65 points, or 0.83 per cent, to settle at 25,682.75.

A total of 2,565 stocks declined, while 1,747 advanced, and 184 remain unchanged on the BSE.

The market capitalisation of BSE-listed firms increased by Rs 3,11,982.13 crore to Rs 4,68,58,625.33 crore ($5.17 trillion).

PowerGrid emerged as the top gainer in the Sensex pack, rising 4.45 per cent, followed by HDFC Bank, Axis Bank, NTPC, ITC, Asian Paints, Bajaj Finserv, Bharti Airtel, Adani Ports, Tata Steel, Kotak Mahindra Bank, Reliance Industries and State Bank of India.

On the other hand, Tech Mahindra, Maruti Suzuki India, Bajaj Finance, Trent, Mahindra & Mahindra, Titan, Infosys, ICICI Bank, and UltraTech Cement were the laggards.

Among sectoral indices, Power rose the most by 2.40 per cent, followed by Utilities by 2.15 per cent, PSU Bank by 1.65 per cent, Realty by 1.44 per cent, Bankex by 1.20 per cent, BSE Top 10 Banks by 1.16 per cent, Energy by 1.13 per cent, Capital Goods by 1.05 per cent, and Private Banks Index by 1.04 per cent.

On the other hand, Consumer Discretionary and Auto were the only laggards.

The rupee settled with a loss of 8 paise at 90.74 against the US dollar on Monday, weighed down by a strong American currency and foreign fund outflows.