Sensex, Nifty climb practically 1 laptop; RIL, ICICI Bank lead cost

Equity benchmark indices rallied practically 1 per cent to re-visit the 59,000-mark on Monday, monitoring heavy shopping for in index heavyweights Reliance Industries and ICICI Bank.

The BSE benchmark rose 442.65 factors or 0.75 per cent to settle at 59,245.98. During the day, it jumped 504.92 factors or 0.85 per cent to 59,308.25.

The NSE Nifty superior 126.35 factors or 0.72 per cent to 17,665.80.

From the Sensex pack, Sun Pharma, ITC, NTPC, Reliance Industries, Larsen & Toubro, Tata Steel, HCL Technologies and ICICI Bank had been among the many main gainers.

In distinction, Nestle, UltraTech Cement, Wipro, PowerGrid, Asian Paints and Hindustan Unilever had been the laggards.

Elsewhere in Asia, bourses in Seoul, Tokyo and Hong Kong ended decrease, whereas Shanghai settled within the inexperienced.

Equities in Europe had been buying and selling decrease through the mid-session offers. The US markets had ended decrease on Friday.

“Benchmark indices outperformed their Asian peers and also shrugged off the weak European market sentiment as investors bet on metals, banking and capital goods stocks. Cautious optimism prevailed as there are enough indications that markets may remain volatile in coming sessions on global slowdown fears,” stated Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.

Meanwhile, the worldwide oil benchmark Brent crude jumped 2.81 per cent to USD 95.63 per barrel.

Foreign institutional buyers (FIIs) offloaded shares value a web Rs 8.79 crore on Friday, as per change information.