Despite rise in Covid-19 cases all over the world and weaker Global markets, domestic Indices went up on Monday amidst hopes of investors on Dalal Street that India Inc might show good results in the quarter ending December 2021 due to good economic recovery.
In the last seven sessions, the Benchmark indices rose for the 6th day as Bulls expected good December quarter results, experts said.
The 30-share pack Sensex rose 650.98 points or 1.09 per cent to close at 60,395.63 while its broader peer Nifty went up 190.60 points or 1.07 per cent to 18,003.30.
PSU Banks led the rally followed by Auto sector due to increase in sales and Realty Sector which hoped on larger sales and expectation of measures in the Budget to boost the growth.
Oberoi Realty went up 3 per cent after a good rise in sale bookings in Q3 while TCS added one per cent as board to mull sure buyback on Jan 12. KEC International climbed 4 per cent on bagging orders worth Rs 1025 crores.
However, Avenue Supermarkets fell 2 per cent after gross margins declined in Q3 results. PayTM declared 6 per cent as Macquarie cut target price to Rs 900.
Among the top companies, UPL was the topmost gainer, rising 4.57 per cent while others who also gained were Hero MotorCorp, Titan, SBI, Maruti Suzuki, Tata Motors, L&T, HDFC, Coal India and Kotak Mahindra Bank.
Among the losers Wipro topped the most in the Nifty pack, falling 2.34 per cent. Nestle India, Divi’s Labs, Asian Paints, Power Grid, Sun Pharma, Eicher Motors and Tata Consumer also ended in the Red.
Market breadth was in favour of gainers as 2640 stocks ended in the green while 1001 other stocks ended with cuts. Altogether 626 securities hit the 52-week highs, mostly from small-cap space while 12 others touched 52-week lows.
