Sensex jumps 593 points to close at 37,982; Nifty reclaims 11,200-mark – Times of India

NEW DELHI: Equity indices finished higher on Monday with the benchmark BSE sensex rising over 550 points led by gains in banking and auto stocks amid positive cues from global markets.
The 30-share BSE sensex surged points or per cent to close at 37,982; while the broader NSE Nifty settled 177 points or 1.60 per cent higher at 11,228.
Top gainers in the sensex pack included IndusInd Bank, Bajaj Finance, Axis Bank, ONGC, Power Grif, ICICI Bank and Sun Pharma with their shares rising as much as 8.24 per cent.
While Hindustan Unilever and Nestle India were the only losers falling up to 0.61 per cent.
On the NSE platform, sub-indices Nifty Media, Bank, PSU Bank, Private Bank and Auto gained as much as 4.77 per cent.
According to traders, domestic equities finished on a positive note following positive trend in most Asian benchmarks.
“Expectations of (government) stimulus is keeping the market positive,” AK Prabhakar, head of research at IDBI Capital told news agency Reuters. He added that investor sentiment were also boosted by a further opening up of the economy after West Bengal allowed cinema halls to operate from October with restrictions.
On the currency front, rupee pared initial gains to settle 18 paise lower at 73.79 (provisional) against the US dollar even as the domestic equity market was trading with significant gains.
Meanwhile, exchange data showed that foreign institutional investors sold equities worth Rs 2,080.21 crore on a net basis on Friday.
(With agency inputs)