Sensex, Nifty Extend Gains For Third Day; IT And Financials Lead Surge
(RTTNews) - Indian shares rose notably on Monday, with IT stocks and financials leading the surge, ahead of a busy quarterly earnings season.
The benchmark BSE Sensex closed up 582.95 points, or 0.72 percent, at 81,790.12, extending gains for a third consecutive session.
The broader NSE Nifty index jumped 183.40 points, or 0.74 percent, to 25,077.65 amid expectations of an earnings revival.
The BSE mid-cap index climbed 0.7 percent while the small-cap index slid 0.2 percent. The market breadth was weak on the BSE, with 2,454 shares falling while 1,829 shares advanced and 166 shares closed unchanged.
Among the top gainers, Bajaj FinServ, Kotak Mahindra Bank, Bajaj Finance, Infosys, Eternal, Axis Bank, Tech Mahindra and TCS rallied 2-3 percent.
Global cues were disappointing. Most Asian markets fell, even as Japan's Nikkei jumped 4.8 percent to a record high as pro-business leader Sanae Takaichi's victory in the ruling Liberal Democratic Party leadership race stoked bets on a revival in big spending and loose monetary policy.
European stocks traded lower as France faced a major political crisis following the resignation of newly appointed Prime Minister Sebastien Lecornu, just hours after unveiling his cabinet.
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