Sensex & Nifty extend gains... IT steals show

Mumbai: Benchmark indices Sensex and Nifty logged gains for a second straight session on Monday, mainly driven by IT stocks amid positive global cues after the US took trade tariffs off the table against Mexico. The BSE Sensex rose 168.62 points, or 0.43 per cent, to close at 39,784.52; and the NSE Nifty gained 52.05 points, or 0.44 per cent, to settle at 11,922.70.

However, concerns pertaining to liquidity situation in the NBFC sector continued to hit overall market sentiments, pulling down financial stocks and benchmark indices. Top gainers in the Sensex pack were TCS, Bharti Airtel, Infosys, Axis Bank, L&T, ITC, PowerGrid, HCL Tech and Tata Steel, ending up to 2.39 per cent.

On the other hand, Yes Bank, Tata Motors, Coal India and ONGC were among the top losers, falling up to 2.89 per cent. Sectorally, BSE teck, FMCG, telecom and consumer durables indices were among the top gainers, rising up to 1.61 per cent. On the other hand, BSE oil and gas, energy, finance and banking indices fell up to 1.20 per cent. Broader BSE midcap ended marginally higher, while BSE smallcap index ended in the red.

"The gains came on the back of positive global cues as investors concerns eased after the US and Mexico struck a migration deal last week to avert a tariff war. Sentiments were further boosted after a weak US jobs data announced Friday raised hopes of interest rate cuts by the US Fed," said Deepak Jasani, Head - retail research, HDFC securities.