Sensex reclaims 56,000-mark

Sensex reclaims 56,000-mark

Mumbai: Equity indices marched higher for the fifth session on the trot on Monday, propelled by robust buying in banking and IT counters along with a decline in crude oil prices as hopes of headway in Russia-Ukraine talks boosted risk-on sentiment globally.

European bourses opened higher following reports of tentative progress in talks between Russian and Ukrainian officials, even as Moscow continued its military offensive.

After a cautious start, the 30-share BSE Sensex gained momentum as the session progressed to close 935.72 points or 1.68 per cent higher at 56,486.02.

Similarly, the broader NSE Nifty vaulted 240.85 points or 1.45 per cent to settle at 16,871.30.

Infosys topped the Sensex gainers' chart, spurting 3.76 per cent, while HDFC Bank climbed 3.25 per cent after the RBI on Saturday lifted all restrictions on the private sector lender, permitting it to launch new digital initiatives. SBI, Maruti Suzuki, Axis Bank, ICICI Bank, Wipro and HDFC were among the other prominent winners.

Only four Sensex constituents closed with losses -- HUL, Sun Pharma, Dr Reddy's and Tata Steel, dropping up to 1.66 per cent. The broader market depicted a muted trend, with the BSE smallcap index gaining 0.31 per cent, while the midcap gauge inched up 0.02 per cent.

A total of 1,749 stocks advanced, while 1,723 declined and 140 remained unchanged on the BSE. Investors' wealth has swelled by over Rs 13.16 lakh crore following the rallies in benchmark indices.

In the past five trading sessions, the benchmark has zoomed 3,643.27 points or 6.89 per cent. Propelled by the optimism in equities, the market capitalisation of BSE-listed firms jumped by Rs 13,16,944.74 crore in five trading sessions to Rs 2,54,27,775.78 crore.

On the global front, bourses in Hong Kong and Shanghai settled sharply lower after China imposed a fresh lockdown in Shenzhen following a spurt in COVID-19 cases. Tokyo closed marginally higher.

Stock exchanges in Europe were largely trading in the green in the afternoon session.

Meanwhile, international oil benchmark Brent crude dipped 2.97 per cent to $109.3 a barrel. The rupee declined by 10 paise to close at 76.54 against the US dollar on Monday.

Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 2,263.90 crore on a net basis on Friday, according to exchange data.

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