The Indian fairness benchmarks rose for fourth session in a row on Monday paced by beneficial properties in steel, pharma, auto and PSU banking shares. The Sensex rose as a lot as 411 factors to hit an intraday excessive of 49,617.47 and Nifty 50 index briefly moved above its necessary psychological stage of 14,950. Boosted by liquidity help measures from world central banks, the inventory market has regarded previous a fast rise in home coronavirus instances and calls to impose a nationwide lockdown.
The Sensex ended 296 factors or 0.6 per cent to shut at 49,502 and Nifty 50 index superior 119 factors or 0.8 per cent to shut at 14,942.
Several states have already entered lockdowns to curb the unfold, which has led economists to chop development expectations for Asia’s third-largest economic system.
Buying was seen throughout the board as all of the 11 sector gauged compiled by the National Stock Exchange ended greater led by the Nifty Metal index’s 3.2 per cent acquire. Metal shares gained as iron ore futures surged and copper costs hit a report excessive amid an outlook for tight provide and robust demand fuelled by a world financial restoration.
Pharma index climbed Three per cent on the again of beneficial properties in drug makers after Cipla, Sun Pharma and Lupin signed settlement with Eli Lilly for manufacturing its Covid-19 drugs within the nation.
Auto, PSU Bank and realty indices additionally rose between 1.1.6 per cent.
Mid- and small-cap shares additionally witnessed shopping for curiosity as Nifty Midcap 100 index rose 1 per cent and Nifty Smallcap 100 index climbed 1.5 per cent.
Coal India was high Nifty gainer, the inventory rose Eight per cent to shut at Rs 148. UPL, Hindalco, Indian Oil, Tata Motors, Lasren & Toubro, Dr Reddy’s Labs, Tata Steel, Sun Pharma, Bharat Petroleum and Power Grid additionally rose between 2.5-7 per cent.
On the flipside, Shree Cements, UltraTech Cement, Britannia Industries, Infosys, Hero MotoCorp, Grasim Industries, Adani Ports, HCL Technologies and Reliance Industries fell between 0.3-1.four per cent.
The general market breadth was optimistic as 2,056 shares ended greater whereas 1,052 ended decrease on the BSE.