Closing bell: Market snaps 3-day sell-off – Sensex, Nifty up 1.4%; bank, metal stocks surge

The Indian stock market snapped 3-day massive sell-off to eventually end positive on Monday, as Sensex surged over 800 points and Nifty closed above 17900-level. Metal, IT, private banks, auto and pharma stocks lead the surge.

At the market close, the BSE Sensex up 831 points or 1.4 per cent to 60138, while Nifty50 jumped 258 points or 1.46 per cent to 17929. In the broader markets, the mid-cap index soared 569.5 points or 1.87 per cent higher to 31039 and small-cap up 83 points or 0.77 to 10.850 at the market close.

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Similarly, Nifty Bank, one of the key drivers of Nifty50, spurted 723.5 points or 1.85 per cent to 39839.1. Notably, the surge was mostly led by private lender IndusInd Bank.

As many as 46 stocks advanced and 4 stocks were on a declining trend on the Nifty50 at the market close today. IndusInd Bank gains most by over 7.5 per cent, followed by Hindalco around 4.5 per cent, Bharti Airtel up 4 per cent. While stocks such as Grasim, HCL Tech, Coal India, Tata Steel, Dr Reddy's and Tech Mahindra each up over 3 per cent today.

Eicher Motor, IOC, JSW Steel, ONGC, Kotak Bank, SBI, TCS, Sun Pharma, Tata Consumer, Adani Ports, and Infosys each gained between 2-3 per cent at the market close on Monday,

On the contrary, UPL continue to biggest laggard since the start of the today’s session, down around 3 per cent, followed by Bajaj Finserv down 1.61 per cent and Mahindra & Mahindra down 1.44 per cent while, Nestle India slipped marginally by around half a per cent at the market close.

Sectorally, Metal Index jumped over 3 per cent, followed by IT up over 2.5 per cent. Similarly, bank, auto, financial service, pharma each surged over 1 per cent at the market close on Monday.