Sensex Rises Over 600 Points In Late Deals; Nifty Trading Above 17,850

Edited by Prashun Talukdar; (With inputs from Reuters)

01 Nov 2021, 01:43 PM IST

Both Sensex and Nifty had declined sharply in the last three trading sessions.

New Delhi: Equity indices were trading in the green on Monday led by gains across all the sectors. The benchmark BSE Sensex jumped 633 points or 1.07 per cent to 59,940 in late deals; while the broader NSE Nifty moved 195 points or 1.11 per cent higher to 17,867.

Top gainers in the BSE pack included IndusInd Bank, Bharti Airtel, HCL Tech, Dr Reddy's, Tata Steel and UltraTech Cements with their shares rising as much as 7.87 per cent. Bajaj Finserv, Mahindra and Mahindra, Hindustan Unilever, Reliance Industries, Nestle India and ICICI Bank declined as much as 2.62 per cent in late deals.

Shares of IndusInd Bank surged more than 8 per cent to hit an intraday high of Rs 1,228.45 after the private lender said that it has raised Rs 2,800 crore by issuing bonds on a private placement basis.

Shares of Steel Authority of India Limited (SAIL) rallied as much as 13 per cent to hit an intraday high of Rs 130.35 as the company's September quarter profit jumped nearly 10 times to Rs 4,339 crore from Rs 436.52 crore in the same period last year.

On the NSE platform, all the sub-indices were trading in green with Nifty Realty and Metal outperforming the index by surging as much as 4.77 per cent.

Both the domestic indices had declined sharply in the last three trading sessions.

"From the market perspective, what we saw over the last three-four days was a sharp correction, which generally is considered good when we have such a one-sided rally," Gaurav Garg, Head of Research at CapitalVia Global Research, told news agency Reuters.

"Investors are back in buying mode, supported by strong September-quarter results," Mr Garg added.

Investor sentiments also got a boost as a private survey showed that the country's factory activity expanded at its quickest pace in eight months in October on strong demand and increased output.

The Manufacturing Purchasing Managers' Index, compiled by IHS Markit, jumped to 55.9 in October from September's 53.7, the highest since February, and remaining above the 50-level separating growth from contraction for a fourth straight month.