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Sensex Surges 855 Points; Nifty Closes Above 24,100
(RTTNews) - Indian shares rose sharply on Monday, extending strong gains from last week as the postponement of U.S. tariffs and newly announced exemptions on certain products sparked hopes for possible negotiations that might ease the strain on global trade.
U.S. Vice President JD Vance landed in Delhi today for his first official visit to India, during which he will hold talks with Prime Minister Narendra Modi as the government rushes to sign a trade deal under the shadow of tariffs.
Sentiment was buoyed after data showed foreign institutional investors (FIIs) have net bought shares worth nearly Rs. 15,000 crores over the last three trading sessions.
News of a normal monsoon this year and easing retail inflation also boosted hopes for more RBI rate cuts in the coming months.
The benchmark S&P/BSE Sensex jumped 855.30 points, or 1.09 percent, to 79,408.50 as investors cheered upbeat earnings updates from the likes of HDFC Bank, ICICI Bank and Yes Bank.
The broader NSE Nifty index closed at 24,125.55, up 273.90 points, or 1.15 percent, from its previous close.
The BSE mid-cap and small-cap indexes surged 2.2 percent and 1.7 percent, respectively.
The market breadth was strong on the BSE, with 2,924 shares rising while 1,164 shares declined and 159 shares closed unchanged.
Among the prominent gainers. Axis Bank, HCL Technologies, Mahindra & Mahindra, Bajaj FinServ, Power Grid Corp, IndusInd Bank and Tech Mahindra rallied 3-5 percent.
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