Sensex Jumps 515 Pts, Nifty Ends Above 15,580
The Dalal-Street continued its uptrend on Monday, May 31 led by advances in index heavyweight Reliance Industries and other Banking stocks. The Nifty-50 marked yet another day of record highs, while the BSE Sensex is around 500 points away from its previous lifetime high.
The frontline S&P BSE Sensex escalated 514.56 points to close at 51,937.44 with 22 advances and eight declines in the 30-share pack. Shares of Reliance Industries surged over three per cent to contribute the most in the rally, whereas ICICI Bank, Bharti Airtel, and Dr. Reddy's Labs gained over two per cent each in the day's trade.
Similarly, the Nifty-50 index closed higher by 147.15 points at 15,582.80.
Tracking the sectoral performance, barring IT, Auto, and PSU Banks, all other sectors closed with gains backed by strong buying. The Metal index surged over two pet cent, while the Financial and FMCG indices gained over a per cent each. Shares of SAIL and MOIL advanced over four per cent each in the metal space.
Among the individuals, shares of PNB Housing Finance and Redington jumped 20 per cent in the intraday session on Monday. PNB Housing Finance gained momentum after the company's board approved fund raising of Rs 4000 crore by entities affiliated to private equity firm Carlyle Group Inc.
In the overall market breadth, 1717 shares have advanced, 1449 shares declined, and 187 shares are unchanged.
Global Markets
Asian stock markets ended mixed on Monday, amid rising optimism about economic recovery thanks to upbeat economic data, easing inflation concerns and prospects of additional fiscal stimulus. Europe’s major indexes saw a mixed open Monday amid signs China’s economic recovery may be levelling out and as investors continue to weigh global inflation risks.
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