Benchmark indices Sensex and Nifty closed higher on Monday, extending their winning streak to a fourth day. Gains were supported by purchases in major bank stocks and softer crude oil prices. Additional foreign fund inflows also lifted sentiment in the domestic equity market.
The 30-share BSE Sensex rose 521.16 points, or 0.67 percent, to finish at 78,285.07. It touched an intraday high of 78,398.06. The 50-share NSE Nifty advanced 159.50 points, or 0.66 percent, to close at 24,430.35.
Over the last four sessions, the Sensex has added 1,806.4 points, or 2.36 percent, while the Nifty has gained 564.6 points, or 2.36 percent.
Among Sensex constituents, HDFC Bank led with a 3.59 percent rise. Other gainers included Mahindra, Bharat Electronics, Reliance Industries, ICICI Bank, and Maruti. Kotak Mahindra Bank, Tata Consultancy Services, Bajaj Finserv, and Power Grid finished lower.
Brent crude fell 0.82 percent to $71.53 a barrel. Foreign institutional investors purchased Indian equities worth 1,355.33 crore rupees on the previous trading day.
Analysts noted that Indian equities held a positive tone despite mixed global signals, aided by steady oil prices. Continued weakness in crude should help contain inflation, support the current account, and benefit oil marketing companies.
In Asia, Hong Kong’s Hang Seng index ended higher, while South Korea’s Kospi, Japan’s Nikkei 225, and Shanghai’s SSE Composite closed lower. European markets traded mixed. U.S. markets remained shut for Independence Day.
