The Indian equities markets key indices rallied for the fifth consecutive session on Monday with benchmark Sensex gaining nearly 2 per cent led by strong buying support in banking, IT, and auto stocks.
Despite the continued uncertainty and ongoing conflict between Russia and Ukraine, the Indian equities market witnessed a strong rally.
The 30 stock S&P BSE Sensex surged 935.72 points or 1.68 per cent to 56,486.02 points against its previous session's close at 55,550.30 points.
Earlier, the Sensex started the day in the positive at 55,614.40 points. The Sensex surged to a high of 56,545.83 points and hit a low of 55,556.47 points in the intra-day.
The broader Nifty 50 of the National Stock Exchange jumped 240.85 points or 1.45 per cent to 16,871.30 points against its previous session's close at 16,630.45 points.
There was a strong buying support in IT, banking and financial stocks.
HDFC Bank surged 3.25 per cent to Rs 1442.40 after the Reserve Bank of India (RBI) lifted all the restrictions imposed on the lender regarding its business-generating activities under a programme called Digital 2.0. HDFC Bank surged to a high of Rs 1449.90 in the intra-day.State Bank of India surged 3.14 per cent to Rs 485.15. Axis Bank surged 2.78 per cent to Rs 710.10. ICICI Bank jumped 2.66 per cent to Rs 696.10.
Infosys was the biggest Sensex gainer. It surged 3.76 per cent to Rs 1890.80. Wipro rose 2 per cent to Rs 597.95. TCS closed 1.17 per cent higher at Rs 3642.70.
Only four of the 30 scrips that are part of the Sensex closed in the red. Hindustan Unilever, Sun Pharma, Dr Reddy's Laboratories and Tata Steel were among the Sensex losers.
( With inputs from ANI )
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