Sensex, Nifty rebound after 3-day fall; financial, IT, auto shares aid recovery

Domestic equity benchmarks registered sharp gains on Monday amid strong buying in pockets like financial services, automobile and IT, making a comeback after three straight sessions of losses. 

The Sensex ended 554.8 points, or 0.7 per cent, higher at 80,364.5 while the Nifty50 settled at 24,625.1, up 198.2 points, or 0.8 per cent, for the day. 

The top five gainers in the Nifty50 basket were all auto stocks, as investors tracked auto makers’ monthly sales reports. 

Bajaj Auto, Mahindra & Mahindra, Hero MotoCorp, Eicher Motors, Tata Motors, Trent and Eternal — closing between 2.4 per cent and 4.0 per cent higher — rose the most among the 42 gainers in the 50-blue-chip index. 

On the other hand, Sun Pharma, ITC and HUL — closing between 0.6 per cent and 1.9 per cent lower — were the top Nifty50 losers.

Infosys, M&M and ICICI Bank were the biggest contributors to the gains in both main gauges.

Source link