Sensex jumps 465 pts to close at near 4-mth high

PTI

Mumbai, August 8

Equity indices made a strong start to the week on Monday, with the Sensex and Nifty closing at near four-month highs, tracking gains in index majors HDFC twins and Reliance Industries amid positive global market trends.

M&M biggest gainer

• M&M was the biggest gainer, followed by Bajaj Finserv, NTPC, Axis Bank, HDFC Bank, Larsen & Toubro, HDFC, Dr Reddy’s, IndusInd Bank and Reliance Industries
• In contrast, SBI was the top loser, dropping 1.95%, after the country’s biggest lender posted a 7% decline in standalone net profit to Rs 6,068 crore for the June quarter

The Sensex climbed 465.14 points to finish at 58,853.07 — its highest closing since April 11 this year. The Nifty gained 127.60 points to end at 17,525.10.

“Sustained FII buying and falling oil prices are the major drivers for the market rally. Heavyweights played a vital role in today’s rise, while PSU banks remained under pressure following weak results of the PSB major,” said Vinod Nair, Head of Research at Geojit Financial Services.

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