The stock markets gained on Monday for the third consecutive trading day due to the rise in IT and banking stocks and the major stock index Sensex closed up 277 points. The 30-share Sensex ended the day at a high of 39,263.85, closing 276.65 points, or 0.71 percent, at 38,973.70 in the day's trading.
Similarly, the NSE Nifty closed up 86.400 points or 0.76 percent at 11,5503.35. TCS gained the most by seven percent in the Sensex. With this, the company became the second Indian company after Reliance Industries to achieve a market capitalization of Rs 10 lakh crore.
Apart from this, Tata Steel, Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank, HCL Tech, ICICI Bank, HUL, and HDFC Bank also gained momentum. On the other hand, Bajaj Finserv, Bajaj Finance, Bharti Airtel, Bajaj Auto, PowerGrid, and ITC closed down.
According to analysts, investor sentiment improved after news of US President Donald Trump's gradual recovery from the COVID-19 transition. Asian stocks rose after Trump's latest Bulletin of Health.
The rupee fell 16 paise to close at 73.29 against the US dollar in the foreign exchange market. Meanwhile, Brent crude was up nearly three percent at $ 40.41 a barrel. Analysts further said that the focus of the market will now be on corporate earnings, whose results will start coming from this week