An employee of a stock trading firm looks at share prices on his computer. file. , Photo credit: Vivek Bendre
Benchmark indices Sensex and Nifty closed at nearly five-month highs on Monday, up nearly half a per cent each.
Rising for the second consecutive day, the 30-share BSE Sensex climbed 317.81 points, or 0.51%, to close at 62,345.71, its highest since December 14. During the day, it gained 534.77 points, or 0.86%, to 62,562.67.
The broader NSE Nifty settled 84.05 points, or 0.46 per cent, higher at 18,398.85, a level not seen since December 20, 2022.
Among Sensex firms, Tata Motors jumped nearly 3% after announcing its quarterly earnings. ITC, Tech Mahindra, Hindustan Unilever, Larsen & Toubro, Infosys, Tata Steel and Mahindra & Mahindra were the other biggest gainers.
Tata Motors reported a consolidated net profit of ₹5,408 crore for the March quarter on the back of rising domestic demand, pricing actions and easing of supply chain issues and aims to improve profit margins this fiscal despite headwinds is kept
Maruti, Tata Consultancy Services, Bajaj Finance, Asian Paints, Bajaj Finserv and Nestle were the laggards.
Foreign institutional investors (FIIs) were buyers on Friday as they bought equities worth Rs 1,014.06 crore, according to exchange data.
Foreign investors showed strong buying interest in Indian equities in May with over ₹23,152 crore inflows in the first fortnight.
In Asia, bourses in Seoul, Tokyo, Shanghai and Hong Kong were trading in the green. European markets were mostly trading with gains. The US market closed with a slight decline on Friday.
Wholesale prices in India fell for the first time in nearly three years in April as softening global commodity prices eased food, fuel and other input costs for producers.
WPI inflation has been on a declining trend for the last 11 months and stood at (-) 0.92% in April.
On Friday, the BSE benchmark had settled 123.38 points or 0.20% higher at 62,027.90, its highest since December 12, 2022. The Nifty closed at 18,314.80, up 17.80 points or 0.1%.
Meanwhile, global oil benchmark Brent crude climbed 0.24% to $74.34 per barrel.