By close, the Nifty index quoted at 15,583 levels, up 147 points or 0.95 per cent. About 39 of the 50 constituents on the index settled the day in the green while 11 constituents settled in the red including M&M (down 4.4 per cent), Adani Ports, L&T, Sun Pharma, and Indian Oil Corporation.
Meanwhile, on the BSE, the Sensex index zoomed 590 points in intra-day session and hit a high of 52,013. It, however, pared minor gains and closed at 51,937, up 515 points or 1 per cent.
Add to it, the lowest daily case count of Covid-19 infections in 48 days further improved sentiment in the broader market. The country reported 152,734 fresh Covid-19 cases in the last 24 hours, the lowest daily count since April 13, 2021. According to global rating agency Fitch Solutions, the impact of the second Covid-19 wave on rated Indian firms is expected to be manageable, as most companies’ credit profiles are supported by their strong market positions, adequate balance sheets, liquidity and diversified operations.
Consequently, the mood in the broader market remained upbeat. The S&P BSE MidCap and SmallCap indices added 0.45 per cent and 0.5 per cent, respectively amid buying in construction material, telecom, energy, and metal stocks.
The BSE Energy index advanced 2.5 per cent, followed by the BSE Telecom and Metal indices (up 1.5 per cent each), and the BSE Oil and Gas index (up 1.3 per cent).
Furthermore, shares of Prozone Intu Properties were locked in the 10 per cent upper circuit band for the second straight day, at Rs 31.75 apiece, on the BSE on Monday with only buyers rushing to the counter. In the past three days, the stock has zoomed 56 per cent from a level of Rs 20.40 seen on Wednesday, May 26 and was trading at its highest level since May 2019.
Lastly, shares of PNB Housing Finance were locked in the upper circuit of 20 per cent at Rs 525.20, also its 52-week high on the BSE on Monday, after the company board approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to the Carlyle Group Inc.
Elsewhere in Asia, Japan’s Nikkei slipped 0.9 per cent, South Korea’s Kospi and China’s Shanghai Composite index added 0.5 per cent each, and Australia’s S&P/ASX200 index dipped 0.25 per cent.
In the commodities market, Brent Crude was last up 1 per cent at $69.4 per barrel-mark.
(With inputs from Reuters)