The Indian equity benchmark indices rallied ended a percent higher on Monday led by strong gains in metals, FMCG and financial stocks. Rally in index heavyweights lifted Nifty to an all-time high level. The Sensex rallied 514.56 points, or 1.00 percent, to close at 51,937.44, while the Nifty ended 147.15 points, or 0.95 percent higher at 15,582.80. Midcap and smallcap indices supported the market gains.
Among sectors, Nifty Metal rallied the most over 2 percent followed by Nifty Private Bank, Nifty FMCG, Nifty Financial Services and Nifty Realty that gained over 1 percent each. Selling was seen in PSU Bank, auto and media sectors.
Reliance was the top gainer in the Sensex pack, surging over 3 percent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC. On the other hand, M&M, Infosys, IndusInd Bank, L&T, and Sun Pharma were among the laggards.
A steady decline in daily COVID-19 caseload strengthened investor sentiment, brokers were quoted as saying in the PTI report.
India reported the lowest daily new coronavirus infections in 50 days with 1,52,734 cases, taking the tally to 2,80,47,534 on Monday, while the active caseload declined to 20,26,092, the Health Ministry said.
First Published: IST