Muristek
Mumbai, March 14
Equity indices marched higher for the fifth session on the trot on Monday, propelled by robust buying in banking and IT counters along with a decline in crude oil prices as hopes of headway in Russia-Ukraine talks boosted risk-on sentiment globally.
European bourses opened higher following reports of tentative progress in talks between Russian and Ukrainian officials, even as Moscow continued its military offensive.
After a cautious start, the BSE Sensex gained momentum as the session progressed to close 935.72 points higher at 56,486.02. Similarly, the Nifty vaulted 240.85 points to settle at 16,871.30.
Only four Sensex constituents closed with losses — HUL, Sun Pharma, Dr Reddy's and Tata Steel, dropping up to 1.66%.
"We are gaining traction as strategy is shifting from tactical sell to tactical buy. Investments are chipping in as commodities prices are reverting. FIIs selling and crude prices are subsiding, which is expected to continue based on diplomatic developments and provide an edge to the domestic market," said Vinod Nair, Head of Research at Geojit Financial Services. — PTI
SENSEX RALLIES 935.72 POINTS CLOSES AT 56,486.02
RUPEE DECLINES TO 76.54/$
NSE Nifty vaulted 240.85 points to settle at 16,871.30 Infosys was the top gainer followed by HDFC Bank, SBI, Maruti, Axis amp; ICICI Bank