Sensex rallies 364 pts; Nifty ends above 15,850

Equity benchmark Sensex rallied 364 points on Monday, driven by gains in index majors Reliance Industries, Infosys and TCS amid a positive trend in global equities.

The 30-share index ended 363.79 points or 0.69 per cent higher at 52,950.63, while the broader NSE Nifty surged 122.10 points or 0.77 per cent to 15,885.15.

Titan was the top gainer in the Sensex pack, rising over 3 per cent, followed by M&M, Reliance Industries, Axis Bank, TCS, Maruti and Infosys.

On the other hand, Tata Steel, Bajaj Finserv, Bajaj Finance, Sun Pharma, Dr Reddy’s and HDFC Bank were among the laggards.

Domestic equities recovered sharply as positive cues from global equities and strong rebound in auto supported benchmark Nifty, said Binod Modi, Head-Strategy at Reliance Securities.

Further, modest recovery in financials, IT and pharma also supported market, he said, adding that realty stocks were in focus after sharp improvement in property registrations in Mumbai for July, while decent improvement in monthly auto sales volume aided original equipment manufacturers (OEMs).

He further noted that most key sectoral indices traded in green, while volatility index broadly stood flat.

Elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo and Hong Kong ended with significant gains.

Stock exchanges in Europe were also trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude declined 1.35 per cent to USD 74.39 per barrel.