NEW DELHI: Indian equity benchmarks Sensex and Nifty extend their gains for a second straight session on Monday on healthy buying in metal, auto, pharma, oil & gas and bank stocks amid positive global cues in the light of a strong US jobs data and hints from Bank of Japan that it will maintain its ultra-easy money policy.
Major markets across the globe showed an uptick, as investors shrugged off worries over US-China trade tussle and showed confidence in global economic growth.
Investors were optimistically waiting for June quarterly results of bluechip companies that will set the mood for the market. Tata Consultancy Services will report its April-June quarter earnings on Tuesday, kick-starting the earnings season.
Besides, the rupee improved on Monday, giving fresh hopes to market participants. At the time of writing this report, the rupee was trading up by 21 paise.
"Trading for the week began on a firm note as key benchmark indices saw a gap-up opening on positive global stocks. Fresh buying in index pivotal propelled the key benchmark indices to trade in the positive zone and finally close the day with gains of over 0.50 per cent. The India VIX was down nearly 0.30% as overseas investors set aside concerns about escalating trade tensions to prepare for the latest earnings season after signs of continued economic strength in their respective regions," said Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund.
The Sensex index rose 277 points, or 0.78 per cent, to settle at 35,935, with 25 stocks advancing and 6 stocks declining.
The Nifty added 80 points, or 0.74 per cent, to its previous close figure to close the day at 10,853, with 38 stocks in the green and 12 in the red.
BSE Midcap and Smallcap indices gained more than the benchmark Sensex, finishing with gains of 1.23 per cent and 1.58 per cent, respectively.
The rally in Sensex was scripted by heavyweights, including Reliance Industries, Infosys, Larsen & Toubro, Asian Paints, YES Bank and ITC.
However, Tata Consultancy Services, HDFC, Bharti Airtel and IndusInd Bank failed to perform.
No sectoral index on BSE disappointed investors, with power, oil & gas, metal, capital goods, utilities, industrials, pharma and energy gaining over 1 per cent each.
Most European markets were in the green, buoyed by optimism on US jobs data. Among Asian peers, Shanghai SE Composite Index jumped over 2 per cent, while Hang Seng and Nikkei climbed over 1 per cent.
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