The Indian benchmark indices on Monday continued to gain for a third straight day following a drop in global crude prices and easing geopolitical tensions. The continued surge in Indian markets was also a result of gains in other Asian stock markets, on signs that the United States and North Korea were working towards holding a summit in June, reported Mint.
The BSE Sensex gained over 240 points and closed at 35,165, while the National Stock Exchange Nifty ended 83 points higher at 10,688.65. The gains on both the bourses were led by oil and gas, public sector units, healthcare and capital good stocks.
The stocks of Sun Pharma performed the best on both Sensex and Nifty 50 after the pharmaceuticals major posted a nearly 7% rise in its consolidated net profit at 1,308.96 crore for the January-March quarter. While Coal India, Larsen and Toubro and Asian Paints were the top stocks on Sensex, Tata Consultancy Services, Power Grid Corp, Infosys and Mahindra & Mahindra had a poor performance.
Hindustan Petroleum, Bharat Petroleum, Gail Limited and Lupin Limited were the top performers on Nifty 50. Tech Mahindra, Power Grid, Tata Consultancy Services and HCL Tech were the top losers on Nifty.
Meanwhile, the rupee strengthened by 49 paise to 67.29 against the US dollar, PTI reported. It strengthened for the third session on Monday to a two-week high against the dollar, after crude oil prices dropped the most in about a year.
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