Indian shares rose sharply on Monday to snap a four-day losing streak as investors awaited cues from the RBI’s MPC meet this week and the latest quarterly earnings season.
The benchmark 30-share S&P BSE Sensex jumped 533.74 points, or 0.91 percent, to settle at 59,299.32, snapping a four-day losing run. The broader NSE Nifty index ended the session up 159.20 points, or 0.91 percent, at 17,691.25.
Divis Laboratories shares surged as much as 7.8 percent after U.S.-based pharma giant Merck & Co announced positive results of its antiviral pill trail. Divi’s Lab makes the main ingredient of Merck & Co’s experimental antiviral pill – Molnupiravir.
Hindalco jumped 4.6 percent to extend recent gains on expectations that the company will benefit from the rise in aluminum prices.
NTPC rallied 4 percent after reports that it plans to take three subsidiaries public.
Tata Motors advanced 2.6 percent after unveiling its much-awaited compact SUV – Tata Punch.
The Bajaj twins, Bajaj FinServ and Bajaj Finance rose gained 3.4 percent and 2.3 percent, respectively.
On the losing side, IOC, UPL, Grasim and Cipla fell 1-3 percent.
Market Analysis
Sensex Soars 534 Points; Nifty Nears 17,700
2021-10-04 11:07:45
