New Delhi: The equity index surged on Monday with BSE Sensex benchmarks up more than 650 points led by profits in banking and automatic stocks.
The 30-share BSE index jumped 651 points or 1.09 percent to close at 60,396.
Meanwhile, the wider NSE settled 191 points or 1.07 percent higher at 18.003.
The top players in the Sensex package include Titan, Maruti, SBI, L & T, HDFC and Bank boxes with their shares up 3.12 percent.
In fact, Wipro, Nestle India, Asia Cat, and Sun Pharma are ajoran slung down to 2.47 percent.
On the NSE platform, the Nifty PSU Bank Sub-Index, Media, Auto and Bank obtained 3.23 percent.
“With repairs to bank shares in recent months, PSU and private lenders are currently in interesting assessment,” Anita Gandhi said, Director at Arihant Capital Markets.
On Friday, the government cut down economic growth this year to reach 9.2 percent of the previous estimate of more than 10 percent.
New forecast compared to 7.3 percent contractions at 2020-21.
However, analyst believes even with the latest estimates, India can be one of the fastest growing economies.
Investors are now eyeing the results of Q3 starting this week from the IT majors and HDFC banks likely to set trends for important segments and banks.
Meanwhile, foreign institutional investors (FIIS) are clean buyers in the capital market, because they buy shares worth Rs 496.27 Crore on Friday, according to stock exchange data.