Sensex Reclaims 60,000-Mark, Nifty Up By 120 Points

Benchmark indices started the week with a positive note with Sensex reclaiming 60,000-mark on Monday as strong quarterly earnings reported by bellwether companies and a downward movement in the crude oil prices supported investor sentiments.

In a see-saw trade, the 30-share BSE Sensex jumped 401.04 points or 0.67 per cent to reach the 60,000-level and closed the session at 60,056.10. During intra-day, it hit a high of 60,101.64 and a low of 59,620.11.

The broader NSE Nifty ended at 17,743.40, up 119.35 points or 0.68 per cent.

According to experts, traders were also cautious due to weak global sentiment amid concerns over growth slowdown and interest rate hikes by major central banks.

“The positive market sentiment in the domestic market was boosted by strong earnings reported by heavyweights.”

“However, the weak global sentiment did raise some concerns midway. But the banking sector played a key role in this upward trend, with sector majors reporting strong earnings,” Vinod Nair, Head of Research at Geojit Financial Services said.

Among the Sensex firms, Wipro, Axis Bank, Titan, UltraTech Cement and HDFC Bank, HDFC, HCL Tech and Reliance were the gainers.

Reliance shares went up 0.35 per cent after the company on Friday reported its highest-ever quarterly net profit of Rs 19,299 crore in January-March on the back of stronger earnings from the oil and petrochemicals business and steady growth in retail and telecom operations.

Bajaj Finance, Infosys, Mahindra & Mahindra and Maruti were among the laggards.

Asian markets saw mixed trends. The Nikkei 225 gained 0.10 per cent, while the Shanghai Composite and Hang Seng fell 0.78 per cent and 0.58 per cent, respectively.

European markets were lower with CAC in France sliding 0.17 per cent while London’s FTSE 100 was off 0.08 per cent and Germany’s DAX was lower by 0.06 per cent.

The US markets ended on a mixed note on Friday.

Meanwhile, global oil benchmark Brent crude dipped 0.21 per cent to USD 81.49 per barrel.

Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 2,116.76 crore on Friday, according to exchange data

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)