Sensex at 2-week closing high, bucks global trend

The Sensex rose 0.9 per cent on Monday, snapping five straight weeks of fall, to log its highest close in more than two weeks as investors continued with bargain hunting, shrugging off slower growth in new manufacturing orders in one of the worst performing markets in the world this year.

Shares of Anil Dhirubhai Ambani Group companies outperformed the benchmark indices on Monday on the back of a deal between Reliance Capital and Nippon Life Insurance. Reliance Communications closed at Rs 84.45, up 6.3 per cent, while Reliance Capital surged 5.8 per cent to Rs 406.65 on the Bombay Stock Exchange. Shares of Reliance Infrastructure were up 3.3 per cent, while Reliance Mediaworks was 5.2 per cent up. Nippon is to also evaluate opportunities to collaborate across all financial businesses promoted by the Group.

The benchmark 30-share BSE index, rose for a third straight session, closing up 144.71 points to 16,821.46.