Mumbai: Sensex today rallied 478 points after gains in index majors HDFC, Infosys and Kotak Bank despite a negative trend in the global markets. After a volatile session, the 30-share index ended 477.99 points or 0.80 per cent higher at 60,545.61. Similarly, the Nifty surged 151.75 points or 0.85 per cent to 18,068.55.

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  • Titan was the top gainer in the Sensex pack, rising over 4 per cent, followed by UltraTech Cement, Bajaj Finserv, Tech Mahindra, Kotak Bank and HDFC.
  • On the other hand, IndusInd Bank was the top loser in the Sensex pack, tanking over 10 per cent after the lender admitted to having disbursed 84,000 loans without customer consent in May owing to a “technical glitch”.
  • M&M, SBI, Maruti, Asian Paints and TCS were also among the laggards.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive. Stock exchanges in Europe were largely trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 1.15 per cent to USD 83.69 per barrel.

Markets started the week with modest gains amid volatility and settled around the day’s high as well. After the initial uptick, the benchmark slipped sharply lower however gradual recovery in select index majors changed the mood as the day progressed. A mixed trend was witnessed on the sectoral front however noticeable traction on the broader front kept the participants busy till the end. Finally, the Nifty index settled around 18,083; up by 0.9 per cent, Ajit Mishra, VP – Research, Religare Broking Ltd said.

The recent buoyancy in the global markets has relieved the participants amid mixed domestic cues however it’s too early to call it a trend reversal. As the festive season is behind us, focus will shift back to earnings announcements. Besides, domestic macro data outcome (IIP & CPI) and global cues will be closely tracked. Nifty should make a decisive move above 18,100 to resume the trend else consolidation/profit taking would resume. Meanwhile, we recommend continuing with a stock-specific trading approach and focusing on the themes/sectors which are seeing noticeable buying interest, Ajit Mishra stated.