Indian fairness benchmarks bounced on Monday monitoring positive aspects in banking, monetary providers, metallic and realty shares. The Sensex rose as a lot as 790 factors on the day’s highest stage and Nifty 50 index moved above its essential psychological stage of 14,550. ICICI Bank was high mover within the Sensex, the inventory rose as a lot as 6.24 per cent to hit an intraday excessive of Rs 605 after it reported robust March quarter earnings. Meanwhile, buyers hoped that surging coronavirus instances might peak quickly and mitigate the pandemic’s financial affect.
The Sensex ended 508 factors or 1.06 per cent greater at 48,386.51 and Nifty 50 index superior 144 factors or 1 per cent to shut at 14,485.
“The Nifty 50 index managed to hold above the support zone of 14,400. The technical factors are aligned to support a range-bound market movement. Therefore, the short-term traders can use the rally to exit while attempting to buy on dip approach,” Ashis Biswas, head of technical analysis at CapitalVia Global Research informed LiveNews360.
All the 11 sector gauges compiled by the National Stock Exchange, barring the index of pharma shares, ended greater led by the Nifty Realty index’s almost Four per cent achieve. Nifty Bank, Financial Services, Metal, PSU Bank and Private Bank indices additionally rose over 1 per cent every.
Mid- and small-cap shares additionally witnessed shopping for curiosity as Nifty Midcap 100 index rose 0.eight per cent and Nifty Smallcap 100 index climbed over a per cent.
ICICI Bank shares soared greater than 6 per cent to high the gainer’s listing on the BSE after the non-public sector financial institution reported a 260.5 per cent year-on-year (YoY) development in standalone revenue at Rs 4,402.61 crore for quarter ended March 2021. The revenue within the corresponding interval final yr stood at Rs 1,221.Four crore.
Axis Bank, ExtremelyTech Cement, JSW Steel, Grasim Industries, HDFC Life, State Bank of India, Hindustan Unilever, Power Grid, Eicher Motors, Tech Mahindra, SBI Life, Bajaj Auto and Reliance Industries additionally superior between 2-Three per cent.
On the flipside, Cipla, Britannia Industries, HCL Technologies, BPCL, Sun Pharma, HDFC Bank, Tata Consultancy Services and Maruti Suzuki had been among the many laggards.