Indian equity benchmarks scaled three-month closing highs on Monday, led by financial and IT shares, building on gains in the past four consecutive sessions. Globally, investors' focus shifted to major central bank meetings lined up for this week in anticipation of the beginning of hikes in pandemic-era rates.
The 30-scrip Sensex index rose 935.7 points or 1.7 percent to end at 56,486 and the broader Nifty50 settled at 16,871.3, up 240.9 points or 1.5 percent from its previous close.
Among blue-chip stocks, Infosys, HDFC Bank, SBI, Axis Bank, ICICI Bank, Maruti Suzuki and HDFC -- closing between 2.5 percent and 3.8 percent higher -- were the biggest gainers.
On the other hand, Indian Oil, ONGC, Hindustan Unilever, Tata Motors and HDFC Life -- declining between 1.2 percent and 2.6 percent -- were the worst hit among the 13 laggards in the Nifty50 pack.
HDFC Bank, ICICI Bank, Infosys, Reliance Industries were the biggest contributors toe the rise in both headline indices.
The Nifty Bank finished the day 2.2 percent higher on the HDFC Bank boost, after the RBI lifted restrictions on business generating activities planned under the the private sector lender's Digital 2.0 programme.
Infosys shares rose as much as 3.8 percent to a settle at a two-month high of Rs 1,890.8. The rupee settled at 76.56 against the US dollar, 40 points off an-all-time low hit this month.
ONGC and OIL India fell more than two percent each amid cooling off crude oil prices. Brent hovered around $110 a barrel, having scaled a 14-year high above $139 a barrel last week.
Jubilant FoodWorks fell 12.3 percent to settle at a 15-month low of Rs 2,512.8, after the company’s board of directors accepted the resignation of Pratik Rashmikant Pota as CEO.
Paytm parent One97 Communications' shares tanked 12.8 percent to a record closing low of Rs 675.4.
Broader markets finished the day mildly in the green, with the Nifty Midcap 100 and and Smallcap 100 indices rising 0.2 percent.
In the midcap and smallcap segments, CreditAccess, BSE, Hatsun Agro, Ingersoll-Rand and Ujjivan Financial -- rising around 4-15 percent -- were the top gainers. On the flipside, Sobha, Dhani Services, Welspun, Future Retail and Solara Active -- declining 4-6 percent -- were the top losers.
Overall market breadth favoured the bears, as 943 stocks rose on NSE as against 1,115 that fell.
Global markets
European shares began the day on a positive note on hopes of progress in peace talks between Ukraine and Russia, shrugging off deep losses in most Asian markets especially China amid renewed COVID lockdowns. The pan-European Stoxx 600 index was up 1.3 percent at the last count.
S&P 500 futures were up 0.9 percent. The benchmark 10-year US bond yield reached its highest level since mid-2019.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM
Jharkhand Lok Sabha elections 2024: All about INDIA bloc candidates
May 14, 2024 2:52 PM