Sensex, Nifty jump nearly 1% on gain in IT, banking shares; rally for third day on the trot

Sensex jumped 594.91 points to settle at 64,958.69; Nifty of climbed 181.15 points to 19,411.75

November 06, 2023 04:17 pm | Updated 04:17 pm IST - Mumbai

Investors and brokers react as they watch the stock prices on a digital screen. File

Investors and brokers react as they watch the stock prices on a digital screen. File | Photo Credit: PTI

Equity benchmarks Sensex and Nifty rallied for a third straight session on Monday, closing higher by nearly 1% on gains in IT, private banks and capital goods shares amid favourable trends in global markets.

The 30-share BSE Sensex jumped 594.91 points or 0.92% to settle at 64,958.69. During the day, it rallied 628.76 points or 0.97% to 64,992.54.

The broader Nifty of the National Stock Exchange climbed 181.15 points or 0.94% to 19,411.75.

Among the Sensex firms, Larsen & Toubro, Axis Bank, Tata Steel, Bajaj Finance, Power Grid, Asian Paints, Mahindra & Mahindra and Bajaj Finserv were the biggest gainers.

State Bank of India, Hindustan Unilever, Tata Motors and Titan were the laggards.

"Optimism continued as soft U.S. payroll data and expectations of moderation in monetary tightening by the Fed supported the sentiment. Since most of the headwinds are global in nature, investor sentiment has shifted to domestic-oriented businesses, where festive demand is healthy," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green.

European markets were trading lower. The U.S. markets ended in positive territory on Friday.

Global oil benchmark Brent crude climbed 1.35% to $86.04 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth ₹12.43 crore on Friday, according to exchange data.

On Friday, the BSE benchmark climbed 282.88 points or 0.44% to settle at 64,363.78 while the Nifty advanced 97.35 points or 0.51% to 19,230.60.

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