 "Sensex reclaims 60,000-mark, Nifty near 17,750 on gains in financial stocks")
Equity benchmark Sensex climbed over 400 points to reclaim the 60,000 mark on Monday, on strong buying in financial stocks after earnings from ICICI Bank and Reliance Industries matched street expectations.
The 30-share BSE Sensex jumped 401.04 points or 0.67 per cent to reach the 60,000-level and settled for the day at 60,056.10. During intra-day, it hit a high of 60,101.64 and a low of 59,620.11.
As many as 23 stocks in the index ended in the green and seven in the red.
The broader NSE Nifty gained 119.35 points or 0.68 per cent to close at 17,743.40. A total of 24 Nifty shares gained, while 26 declined.
“After witnessing a sluggish trend over the past few sessions, fresh buying emerged ahead of the monthly F&O expiry later this week. While the markets may still be choppy and volatile, we may see select bouts of buying going ahead,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
According to Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services, strong results from index heavyweights led domestic indices to inch higher.
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“The banking sector was the top gainer up 1 per cent, followed by the realty sector. Better than expected Q4 result from ICICI Bank over the weekend and RBI’s relaxation towards the HDFC Bank merger led to a rally in the banking index,” Khemka said.
Among the Sensex firms, Wipro, Axis Bank, Titan, UltraTech Cement and HDFC Bank, HDFC, HCL Tech and Reliance were the gainers.