Investors' wealth on Monday surged Rs 4.21 lakh crore as markets bounced back after five days of fall.
The BSE Sensex jumped 602.75 points or 0.76 per cent to settle at 80,005.04. During the day, it surged 1,137.52 points or 1.43 per cent to 80,539.81.
The market capitalisation of BSE-listed firms jumped Rs 4,21,138.2 crore to Rs 4,41,20,059.86 crore (USD 5.25 trillion).
"Amid higher valuation concerns, markets had corrected sharply last week and hence the recovery was seen today. Also, short covering ahead of the monthly expiry this week triggered a rally in domestic markets, although the undertone remains cautious," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.
From the 30 Sensex pack, ICICI Bank climbed 3 per cent after the private sector lender posted a 14.5 per cent growth in standalone profit to Rs 11,746 crore for the second quarter ended September 2024.
Adani Ports, JSW Steel, Tata Steel, Mahindra & Mahindra, Sun Pharma, Hindustan Unilever, Tata Motors and State Bank of India were the other big gainers from the pack.
Axis Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Maruti were the laggards.
"The market exhibited a rebound after a continuous selloff last week. Positive results from banks and a slump in oil prices in expectation of ease in retaliations in the Middle East aided investor sentiment," Vinod Nair, Head of Research, Geojit Financial Services, said.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled higher.
The BSE smallcap gauge jumped 1.11 per cent and midcap index climbed 0.69 per cent.
Among sectoral indices, commodities surged 1.79 per cent, realty (1.40 per cent), telecommunication (1.37 per cent), healthcare (1.36 per cent) and metal (1.21 per cent). Services, energy and capital goods (0.01 per cent)..
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
