Major gainers in the 30-share BSE pack included IndusInd Bank, SBI, ICICI Bank, HDFC twins (HDFC and HDFC Bank), Axis Bank and Bajaj Finserv. (File photo)
NEW DELHI: Equity indices surged on Monday with the benchmark BSE sensex rising nearly 850 points led by gains in banking stocks. Sensex zoomed 848 points or 1.74 per cent to close at 49,581; while the broader NSE Nifty moved 245 points or 1.67 per cent higher to settle at 14,923.
Top gainers in the BSE pack included IndusInd Bank, SBI, ICICI Bank, HDFC twins (HDFC and HDFC Bank), Axis Bank and Bajaj Finserv with their shares rising as much as 7.46 per cent.
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BENGALURU, May 17 (Reuters) - Indian shares rose on Monday as market sentiment improved after domestic coronavirus cases fell below the 300,000 mark for the first time since April 21, with financials rebounding from a sharp drop in the previous session.
The NSE Nifty 50 index climbed 0.82% to 14,798.55 by 0505 GMT, up after three straight sessions of falls, while the benchmark S&P BSE Sensex advanced 0.93% to 49,191.68.
Last week, both indexes lost 0.9% after worries over higher U.S. inflation triggered a sell-off in global markets.
“The decline in the speed of new cases is helping domestic markets,” said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.