Sensex Soars 592 Points, Nifty Above 25K: IT, Banking Lead Gains

Mumbai, Oct 14 (PTI) Benchmark BSE Sensex rose by nearly 592 points on Monday following gains in IT and banking shares amid a firm trend in global markets.

The 30-share BSE Sensex jumped 591.69 points or 0.73 per cent to close at 81,973.05. During the day, it surged 690.81 points or 0.84 per cent to hit a high of 82,072.17.

The NSE Nifty rose 163.70 points or 0.66 per cent to settle at 25,127.95. In the intraday trade, the benchmark indices climbed 195.5 points or 0.78 per cent to 25,159.75.

From the Sensex pack, Tech Mahindra, HDFC Bank, Larsen & Toubro, ITC, Infosys, IndusInd Bank, Kotak Mahindra Bank, Titan and HCL Technologies were among the gainers.

Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards.

“The Indian market is demonstrating resilience, with subdued Q2 earnings expectations seemingly priced in and oil prices declining. The IT and financial sectors are attracting buying interest after recent corrections," Vinod Nair, Head of Research, Geojit Financial Services said.

European markets were trading on a mixed note in mid-session deals.

Global oil benchmark Brent crude fell 2.52 per cent to USD 77.05 a barrel.

In Asian markets, Tokyo, Shanghai and Seoul closed higher while Hong Kong settled in the negative territory. Wall Street ended with gains on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,162.66 crore on Friday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 3,730.87 crore, according to exchange data.

On Friday, the BSE Sensex fell 230.05 points to close at 81,381.36, and the NSE Nifty slipped 34.20 points to settle at 24,964.25.