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Sensex Rises 277 Points as Nifty Zooms by 86 Points

A man reacts as he looks at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

A man reacts as he looks at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

Starting off on a high note, the 30share BSE gauge zoomed to the day's peak at 39,263.85, before ceding some ground to settle at 38,973.70, up 276.65 points or 0.71 per cent.

Rising for the third straight session, market benchmark Sensex finished 277 points higher on Monday, propelled by IT and banking counters. Starting off on a high note, the 30-share BSE gauge zoomed to the day's peak at 39,263.85, before ceding some ground to settle at 38,973.70, up 276.65 points or 0.71 per cent.

Likewise, the broader NSE Nifty rose 86.40 points or 0.76 per cent to close at 11,503.35. On the Sensex chart, IT major TCS rose the most, gaining over 7 per cent.

In the process, the IT giant became the second Indian firm after Reliance Industries to cross the Rs 10 lakh crore market valuation mark. Other prominent gainers included Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL and HDFC Bank.

On the other hand, Bajaj Finserv, Bajaj Finance, Bharti Airtel, Bajaj Auto, PowerGrid and ITC were among the major laggards. With the global markets' focus turning to US President Donald Trump's recovery from COVID-19, reports of an improvement in his health boosted investor sentiment, according to analysts.

Asian shares rose following Trump's health update. On the forex market front, the rupee closed 16 paise lower at 73.29 against the US dollar.

Global crude oil benchmark Brent was trading nearly 3 per cent higher at USD 40.41 per barrel. Analysts further said that going ahead, the market's focus will shift to corporate earnings announcements, with the results season beginning this week.


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