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    Closing Bell: Sensex, Nifty end higher led by IT, metal, oil & gas stocks

    Closing Bell: Sensex, Nifty end higher led by IT, metal, oil & gas stocks

    Closing Bell: Sensex, Nifty end higher led by IT, metal, oil & gas stocks
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    By CNBCTV18.com  IST (Published)

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    Benchmark indices, BSE Sensex and NSE Nifty50 gained over 0.8 percent each at the time of closing. The Sensex settled at 53,161, up 433 points, rising 0.82 percent. The Nifty rose 133 points, or 0.85 percent, to settle at 15,832.

    Indian shares settled Monday's trade in the green but off the day's highs as fears over the US Federal Reserve's aggressive rate hike stance eased following weak macro data from the country.
    Benchmark indices, BSE Sensex and NSE Nifty50 gained over 0.8 percent each at the time of closing. The Sensex settled at 53,161, up 433 points, rising 0.82 percent. The Nifty rose 133 points, or 0.85 percent, to settle at 15,832.
    Among Sensex gainers, L&T, HCL Tech, Infosys, Tech Mahindra and Bharti Airtel surged between 2 and 3 percent. Coal India and ONGC were top gainers on Nifty, rising over 3 percent each.
    Kotak Mahindra, Reliance Industries and Titan were top laggards losing by up to half a percent.
    Key movers
    HDFC AMC slipped more than 3 percent on reports of a large block deal, while Aurobindo dropped 3 percent from highs after SEBI issued a warning letter.
    Zomato closed with a cut of 7 percent following its deal with Blinkit. The online food delivery service platform would acquire Blink Commerce (formerly known as Grofers) for Rs 4,447.48 crore in a share swap deal.
    Two-wheeler major Bajaj Auto Ltd informed the stock exchanges on Monday that the company has approved the buyback of shares worth up to Rs 2,500 crores. The company intends to buyback 54.35 lakh shares or 1.88 percent of the paid-up share capital via the open market at Rs 4,600 per share.
    Shares of Vedanta rose more than 4 percent after JPMorgan said that the metal company remains best positioned to take advantage of higher LME Zinc prices.
    Shares of Tata Power Company rose as much as 2 percent even as Morgan Stanley cut its target price on the stock to Rs 175 from Rs 244. The brokerage firm has an ‘underweight’ stance on the stock and has also slashed its earnings estimates by 3-10 percent over FY23-24.
    Global markets
    Asian equities closed higher Japan's Nikkei and South Korea's Kospi indices closed about 1.5 percent higher each. Markets in China and Hong Kong also rose a percent higher on easing of COVID-19 curbs in Shanghai and Beijing.
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