Sensex jumps 478 points as Infosys, HDFC advance; Titan rises over 4%

Equity benchmark Sensex rallied 478 points on Monday after gains in index majors HDFC, Infosys, and Kotak Bank, despite a negative trend in the global markets.

After a volatile session, the 30-share index ended 477.99 points, or 0.8 per cent higher, at 60,545.61. The broad-based Nifty surged 151.75 points, or 0.85 per cent, to 18,068.55, as 40 of its constituents ended with gains. Titan was the top gainer in the Sensex pack, rising over 4 per cent, followed by UltraTech Cement, Bajaj Finserv, Tech Mahindra, Kotak Bank, and HDFC.

On the other hand, IndusInd Bank was the top loser in the Sensex pack, tanking over 10 per cent after the lender admitted to having disbursed 84,000 loans without customer consent in May owing to a “technical glitch”. Mahindra & Mahindra, State Bank of India, Maruti Suzuki India, Asian Paints, and Tata Consultancy Services were also among the laggards.

Vinod Nair, head of research at Geojit Financial Services, said, “Despite a muted opening, domestic indices erased early losses, boosted by favourable macros like fuel rate tax-cut, improved Purchasing Managers’ Index numbers, and higher festival season sales numbers.”