Indian equity markets witnessed a strong rally on Monday, with the BSE Sensex surging over 1,200 points as buying interest gathered pace across Dalal Street. The sharp gains marked a strong recovery in investor sentiment, with market participants stepping up purchases amid renewed optimism. The Nifty 50 also advanced, reflecting broad-based strength in the domestic equity market.
\n\nAt close, Sensex was up by 1,233.25 points or 1.66% at 75,692.78 while Nifty was at 23,440.80, up by 387.70 points or 1.68%.
\n\nThe rupee traded with marginal gains of around 0.12% at 94.90, supported by a sharp gap-down opening in crude oil prices.
\n\nThe rally was supported by easing crude oil prices, strong Reliance Industries results and improving geopolitical sentiment.
\n\nAmong the sectors, mixed trend was observed with the Nifty Oil & Gas index up by 5.95 per cent emerging as the top gainer. The index was followed by Nifty Metal gaining 3.21 per cent, and Nifty Consumer Durables added 2.70 per cent.
\n\nOn the losing end were Nifty IT and Nifty Media, down by 0.50 per cent and 0.76 per cent. Nifty Pharma and Nifty Private Bank indices also closed in the red.
\n\nVinod Nair, Head of Research, Geojit Investments Limited…
Original source: https://www.timesnownews.com/business-economy
