Sensex rises over 1000 points, Nifty over 16,600 | Top gaining shares
India Today
Nifty 50 index closed 1.89 per cent or 308.95 points higher at 16,661.40, while the S&P BSE Sensex ended up 1.9 per cent or 1,041.08 points at 55,925.74.
The Sensex and Nifty ended higher for a third straight session on Monday, riding on gains in technology stocks and a surge in automaker Mahindra and Mahindra after strong quarterly earnings.
The NSE Nifty 50 index closed 1.89 per cent or 308.95 points higher at 16,661.40, while the S&P BSE Sensex ended up 1.9 per cent or 1,041.08 points at 55,925.74.
The market also benefited from an uptick in the global mood after news that Shanghai will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago.
Mahindra and Mahindra rose 6.2 per cent to a record high after it reported a 48 per cent jump in quarterly profit.
This pushed the Nifty auto index up 2 per cent to its highest in three months. Shares of Tata Motors added 3 per cent after the Jaguar Land Rover owner said it could acquire Ford India's plant in Gujarat.
Technology stocks rose for a third session to notch a gain of 3.9 per cent.
Stocks in India's $194-billion IT sector have taken a beating in recent months from growing investor worries about inflation, supply chain issues and the impact of the Ukraine war on client spending.
