Indian shares posted strong gains on Monday as the country reported its lowest daily rise in new coronavirus infections since April 10 at 1,52,734 cases over the past 24 hours.
The benchmark 30-share BSE Sensex jumped 514.56 points, or 1.00 percent, to settle at 51,937.44, while the broader NSE Nifty index ended up 147.15 points, or 0.95 percent, at 15,582.80 – marking a record closing high for the third straight session.
Heavyweight Reliance Industries climbed 2.8 percent to extend gains from the previous session after brokerage Jefferies raised its target price for the stock.
Among other top gainers, Tata Steel, Bharti Airtel, ICICI Bank and JSW Steel rose 2-3 percent.
On the flip side, Mahindra & Mahindra lost 4.4 percent. A top company official said the company will deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses.
Aurobindo Pharma fell more than 2 percent after posting disappointing results for the fourth quarter ended March.
Solar Industries soared 10.4 percent on brokerage upgrades. Bank of Baroda tumbled 3.8 percent on weak results.
Market Analysis
Sensex Soars Over 500 Points; Nifty Tops 15,550
2021-05-31 10:41:38
