Stock market updates: On Monday, the Nifty recovered the 18,200 level and the equity benchmark BSE Sensex recovered more than 1%, both of which were aided by strong buying in the banking, financial, and auto sectors amid a rally in the world stock markets.
Additionally, ongoing foreign fund inflows helped to boost sentiment even more, according to traders.
The 30-share BSE Sensex advanced 709.96 points or 1.16 percentage points to close at 61,764.25, up. It increased by 799.9 points or 1.31 percent throughout the day to reach 61,854.19.
Similar to this, the larger NSE Nifty gained 195.40 points, or 1.08 percent, to close at 18,264.40.
IndusInd Bank experienced a 5.08 percent increase among the Sensex companies. The other winners included Mahindra & Mahindra, Axis Bank, Maruti, Tata Motors, Bajaj Finance, Bajaj Finserv, NTPC, HCL Technologies, and Kotak Mahindra Bank.
Investing value in index heavyweights As the momentum grew, Reliance, HDFC Bank, and ICICI Bank joined in.
Laggards included Sun Pharma, Larsen & Toubro, and Nestle.
Asian markets saw gains in Seoul, Shanghai, and Hong Kong while losses were recorded in Tokyo.
European markets were trading in the black. On Friday, the US stock markets saw significant gains.
According to exchange data, foreign institutional investors (FIIs) were net buyers on Friday, purchasing shares of stock worth 777.68 crore.
Brent crude, the benchmark for all crude oil, increased 1.79 percent to USD 76.65 per barrel.
On Monday, the rupee gave up some of its early gains to end the day 2 paise weaker against the US dollar at 81.80 (provisional).
The BSE benchmark dropped 694.96 points, or 1.13 percent, on Friday to close at 61,054.29; this is a record low. The Nifty ended at 18,069 after dropping 186.80 points or 1.02 percent.
