The Bombay Stock Exchange Sensex on Monday surged 205 points to close at 32,514.94, while the National Stock Exchange Nifty ended 63 points higher at 10,077.10. The rally came on the back of buying in capital goods, gas, oil, banking stocks and consumer durables among other factors. The surge comes ahead of the Reserve Bank of India’s two-day policy review that will begin on Tuesday.
Nifty touched a high of 10,085.90 points on Monday morning after closing six points lower on Friday at 10,014.50. The BSE touched a high of 32,546.50 points, after ending 73 points down on Friday at 32,309.88.
The stocks of the State Bank of India surged more than 4.45% on both Sensex and Nifty, after the bank on Monday introduced a two-tier saving bank interest rate with effect from July 31, 2017. Besides SBI, Larsen and Toubro (more than 2.85%) and ONGC (+2.82%) were the top gainers on both the bourses. Power Grid Corporation (+4.03%) and Bank of Baroda (+2.79%) also performed well on Nifty, and Tata Steel (+2.89%) and Bharti Airtel (+2.01) on Sensex.
Earlier on Monday, engineering and construction giant Larsen and Toubro Ltd rose almost 3.97% after the company posted its first quarter earnings on Friday. The company reported a 46% increase in consolidated net profit for the June quarter.
Sun Pharma was the biggest loser on Sensex as well as Nifty going down more about 3.48% on both, followed by Dr Reddy’s Labs (more than 3.1%). Lupin Limited (-2.90%) and ITC Limited (-2.09%) performed poorly on Sensex, and Idea Cellular traded in red on Nifty.
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