Sensex zooms 395 pts amid buying in realty, bank stocks; Nifty above 15,800

Stock market updates: Market bulls were back on Dalal Street on Monday, after a volatile week, as an across-the-board buying kept benchmarks parked near day's high levels. Bucking the muted trend in the global markets, the Indian market rose over half a per cent higher amid strong gains in realty, banking, metals, and fertiliser stocks. 

Among the frontline indices, the S&P BSE Sensex hit an intra-day high of 52,919 before settling at 52,880 levels, up 395 points or 0.75 per cent. On the NSE, the Nifty50 index gained 115 points, or 0.71 per cent, to close at 15,834 levels. 

Furthermore, in the broader markets, the BSE SmallCap index scaled fresh record peak of 25,809 in the intra-day trade but eased mildly to close at 25,790 levels, up 0.87 per cent. Individually, about 32 stocks including Route Mobile, TTK Prestige, Tata Elxsi, Tata Coffee, Tata Communications, PNC Infratech, CCL Products, Action Construction Equipment, Dollar Industries and JK Paper hit their respective record highs today. READ MORE

In the MidCap space, the index ended 0.35 per cent higher at 22,585 levels.

Meanwhile, shares of India Pesticides Ltd made a strong debut on the bourses as they got listed at Rs 360, commanding a 22 per cent premium over the issue price of Rs 296 on the BSE. Post listing, the stock extended its gains and moved higher to Rs 368, a 24 per cent jump against its issue price. The shares, however, witnessed mild profit booking at higher levels and closed at Rs 342 apiece on the BSE.

Sectorally, all, except the IT and Pharma indices, ended in the green. Of these, the Nifty Realty index was the top gainer, up nearly 3 per cent.

Global markets

World stocks clung close to record highs on Monday as worries about the Delta variant of Covid-19 offset positive sentiment from surging euro zone business activity and a welcome US jobs report.

The STOXX index of 600 leading European companies was flat, reversing earlier losses. French shares, however, sank 0.4 per cent as Health Minister Olivier Veran warned France could be heading for a fourth wave of the pandemic due to the highly transmissible Delta variant. 

Covid-19 angst also weighed on Japan shares, with the Nikkei falling 0.6 per cent, to a two-week low, following a surge in infections in Tokyo. MSCI’s broadest index of Asia-Pacific shares outside Japan, was flat. China’s blue chip stock index recovered from earlier losses to close 0.1 per cent higher.

(With inputs from Reuters)