Sensex Rises 591 Points, Realty and Banking Stocks Lead the Surge

Indian benchmark indices closed in green on Monday with a strong start for the week as buying was seen in stocks of realty, banking and IT. BSE Sensex ended at 81,973.05 after registering an increase of 591.69 points or 0.73 per cent.
BSE Nifty also ended 163.70 points or 0.66 per cent higher at 25,127.95.

The Nifty Midcap 100 index ended with a green mark at 59,465.45 by surging 252.75 points or 0.43 per cent. The Nifty Smallcap 100 index closed at 26,197.90 after a rise of 143.80 points or 0.55 per cent.

Buying was seen in realty, IT, financial services, private banks, auto, PSU banks, pharma, and FMCG sectors. Meanwhile, the media, metal, and oil and gas sectors were under pressure.

The market trend remained buoyant.

On the BSE, 1,952 shares were trading in green and 1,919 shares in red. Around 140 shares closed with no change.

The top gainer from Nifty included Wipro (NS:WIPR), Tech Mahindra (NS:TEML), HDFC Life, L&T, and HDFC Bank (NS:HDBK). The top losers were ONGC (NS:ONGC), Maruti Suzuki (NS:MRTI), Tata Steel (NS:TISC), and Bajaj Finance (NS:BJFN).

FIIs went on a selling spree on Oct 11, selling equities worth Rs 4,162.66 crore. However, DIIs also went a bit overboard in buying and bought equities worth Rs 3,730.87 crores during the day.

This optimism was also driven by strong domestic tax collections, say market experts. Sentiment will further be boosted with investors closely watching major companies' impending earnings reports, including Infosys (NS:INFY), and Hyundai Motor India's much-awaited IPO.

"Globally, market focus is still on the third-quarter earnings season and the European Central Bank rate decision, as US stock futures and European shares trade marginally higher," said Vikram Kasat of Prabhudas Lilladher.

Trade analysts said that on the daily charts, "we can see that the Nifty has resumed its up-move towards 25,500 after a three-day consolidation".