The Indian benchmark equity indices, Sensex and Nifty ended higher Monday led by gains in financials, FMCG and pharma stocks amid mixed global cues. The Sensex ended 347.42 points or 0.77 percent higher at 45,426.97 while the Nifty gained 97.20 points or 0.73 percent to settle at 13,355.75.
The Indian benchmark equity indices, Sensex and Nifty ended higher Monday led by gains in financials, FMCG and pharma stocks amid mixed global cues.
The Sensex ended 347.42 points or 0.77 percent higher at 45,426.97 while the Nifty gained 97.20 points or 0.73 percent to settle at 13,355.75.
Broader indices outperformed the benchmarks as Nifty Smallcap100 and Nifty Midcap100 indices ended with more than one percent gains each.
"Domestic markets remained upbeat despite weak cues from other Asian markets as Brexit trade talks reached stalemate and US-China tensions returned to the fore. Faster approvals of covid vaccines in developed economies and talks of Pfizer India seeking emergency use authorization for its Covid-19 vaccine in India have added optimism," said Paras Bothra, President of Equity Research, Ashika Stock Broking.
Among sectors, Nifty PSU Bank, Nifty Pharma, Nifty FMCG and Nifty Media rallied the most while Nifty Realty was the only to end in the red.
UPL, Adani Ports & SEZ, Hindustan Unilever, Bharti Airtel and ONGC were the top Nifty50 gainers while SBI Life Insurance, Nestle India, Kotak Mahindra Bank, JSW Steel and Tata Steel were the top index losers.
Shares of Adani Ports & Special Economic Zone ended over 3 percent higher after brokerages raised the target price as the operational turnaround of Krishnapatnam Port was faster than expected. The infra stock has rallied more than 38 percent in the last 6 months.
Oil & Natural Gas Corporation Ltd (ONGC) stock price rallied over 3 percent after the state-run oil explorer informed that its overseas investment arm ONGC Videsh Ltd has made a "significant" oil discovery in an onshore block in Colombia.
Globally, Asian shares retreated from a record peak on Monday after a Reuters report the United States was preparing to impose sanctions on some Chinese officials highlighted geopolitical tensions, while oil prices fell on surging virus cases.
In signal markets elsewhere would start weaker, eurostoxx 50 futures were 0.4% down, futures for Germany's DAX eased 0.3% while those of London's FTSE were flat. E-Mini futures for the S&P 500 slipped 0.2%.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1% following four straight sessions of gains. The index hit a record high of 644.3 points early on Monday.