Sensex, Nifty Extend Gains To Fourth Day After Government Eases COVID-19 Lockdown Curbs

Nifty Today: Gains across sectors pushed the markets higher, led by banking, financial services, automobile and metal shares.

Sensex, Nifty Extend Gains To Fourth Day After Government Eases COVID-19 Lockdown Curbs

The S&P BSE Sensex and NSE Nifty surged on Monday on the back of a broad-based buying interest as investor sentiment got a boost after government announced easing the Covid-19-induced lockdown after over two months. The benchmarks staged a gap up opening wherein the Sensex rose as much as 1,250 points and the Nifty 50 index touched an intraday high of 9,931.60. Reliance Industries, HDFC Bank, HDFC, TCS and Bajaj Finserv were among the top contributors towards the gain in the Sensex.

The Sensex ended 879 points or 2.71 per cent higher at 33,303.52 and the Nifty 50 index surged 246 points or 2.57 per cent to close at 9,826.15.

The government permitted restaurants and malls to reopen from June 8, but extended lockdowns in high-risk zones until June 30 as a record high number of cases were detected nationwide on Saturday.

All the 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty PSU Bank index's 7.6 per cent. Nifty Bank, Private Bank, Metal, Auto and Realty sector gauges also soared over 3 per cent.

Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 3 per cent each.

40 out of fifty shares in Nifty ended higher led by Bajaj Finance's over 10 per cent gain. Bajaj Finserv, Titan, Tata Steel, Mahindra & Mahindra, State Bank of India, JSW Steel, Coal India, HDFC, IndusInd Bank and Reliance Industries also rose between 4-8 per cent.

On the flipside, Dr. Reddy's Labs, Bharti Infratel, UltraTech Cement, Nestle India, Sun Pharma and Grasim Industries were among the notable losers.

The overall market breadth was extremely bullish as 1,885 shares closed higher while 596 closed lower on the BSE.