NSE’s Nifty finished above 11,500 marks at 11.503, up 0.76 percent.
Benchmark equity indices closed nearly 1 percent higher on Monday, driven mainly by information technology (IT) stocks and private sector lenders such as HDFC Bank and ICICI Bank.
Shares in information technology (IT) companies were on a roll after Tata Consultancy Services (TCS) announced a share buyback plan amid expectations of strong earnings in the July-September quarter of the current fiscal year (Q2FY21). The stock hit a new high of Rs 2,727 on the BSE for the day before settling at Rs 2,707, up 7 percent. Other than that, TCS’s market capitalization passed the Rs 10 trillion mark for the first time.
Among the major indices, the S&P BSE Sensex closed 277 points, or 0.7 percent higher at 38,990 levels, and the Nifty50 index finished above 11,500 marks at 11.503, up 0.76 percent. India VIX rose more than 7.6 percent to levels of 19.75.
Financial stocks, meanwhile, were in the spotlight after the Supreme Court ordered all affidavits in the interest waiver case to be filed by October 12. The next court will hear the case on October 13.
Global markets
Shares rose on Monday as signs that President Donald Trump’s health was improving eased some of the political uncertainty caused by his coronavirus infection, which sent investors seeking safety last week.
That helped US S&P 500 e-mini futures rise 0.62%, while Nasdaq futures rose 0.89%.
MSCI’s broader Asia-Pacific equity index outside of Japan rose 1.08%. Euro Stoxx 50 futures were up 0.82%, German DAX futures were up 0.72% and FTSE futures were up 0.91%.
In commodities, oil prices rose, fueled by comments from US President Donald Trump’s doctors who suggested he could be discharged from the hospital on Monday.
(With input from Reuters)
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