Sensex, Nifty rally nearly 1% in line with global gains; rise for 3rd day
India Today
The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their upward momentum for the third straight session, ending nearly 1 per cent higher on Monday.
Benchmark stock indices Sensex and Nifty rallied nearly 1 per cent to close at over two-week high levels on Monday, posting gains for a third straight day as global equities advanced on easing inflation concerns.
The 30-share BSE Sensex jumped 433.30 points or 0.82 per cent to settle at 53,161.28, a level not seen since June 10. During the day, the barometer rallied 781.52 points or 1.48 per cent to 53,509.50.
The NSE Nifty also gained 132.80 points or 0.85 per cent to close above the 15,800 level at 15,832.05, the highest closing level since June 10.
In the three-day winning run, Sensex jumped by 2.56 per cent or 1,378 points while Nifty rallied 2.73 per cent or 418 points to a more than two-week high.
"Declining commodity prices have been lifting the exhausted domestic equity market during the recent sessions," Vinod Nair, Head of Research at Geojit Financial Services said.
Analysts said that investors expect oil prices to decline further following easing demand from Europe, China and the US due to the slowdown in the economy.
Larsen & Toubro was the biggest gainer among Sensex shares, rising by 2.69 per cent. Tech Mahindra spurred 2.67 per cent, HCL Tech by 2.61 per cent, IndusInd Bank by 2.27 per cent and Infosys by 2.25 per cent.
