Mkts end higher on softening oil prices, supportive global cues

Sectorally, BSE Utilities jumped 1.01%, followed by Healthcare at 0.81%, Energy at 0.68%, oil and gas at 0.68%, Industrials at 0.62% and Focused IT at 0.62%. Consumer Durables tanked 1.05% 

PTI

mumbai

Stock markets rebounded on Monday with the benchmark Sensex gaining 291 points following a decline in crude oil prices and supportive global cues amid hopes of diplomatic progress in US-Iran talks.

The 30-share BSE Sensex climbed 291.17 points, or 0.38%, to settle at 77,094.07 following buying in select oil and gas, banking and pharma shares. During the day, the index jumped 522.66 points, or 0.68%, to 77,325.56. The 50-share NSE Nifty surged 89.80 points, or 0.37%, to end at 24,102.90. Fresh foreign fund inflows and buying in blue-chips Reliance Industries and HDFC Bank aided the recovery, analysts said. 

Among Sensex shares, Tech Mahindra was the top gainer, rising 1.87%. Sun Pharma rose 1.39%, Reliance Industries 1.31%, Infosys 1.29%, Bharat Electronics 1.01% and Bajaj Finserv 0.89%. Conversely, Asian Paints fell the most by 2.15%, Titan 1.11%, and Power Grid and Trent by up to 1%. 

The BSE SmallCap Select index climbed 0.60% and the MidCap Select index went up 0.45%.  Sectorally, BSE Utilities jumped 1.01%, followed by Healthcare at 0.81%, Energy at 0.68%, oil and gas at 0.68%, Industrials at 0.62% and Focused IT at 0.62%. Consumer Durables tanked 1.05% and FMCG dipped 0.31%. 

Foreign institutional investors bought equities worth ₹4,859.07 crore on Friday, according to exchange data. 

"Indian equity markets advanced alongside regional peers as global sentiment strengthened after the first round of US-Iran negotiations ended on a constructive note. The continuation of technical talks through the week has reinforced hopes of further diplomatic progress, keeping investor optimism cautious but supportive," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.