Indian equity benchmarks extended their winning runs to the
fourth consecutive day on Monday, with Sensex reclaiming the 58,000-level,
following firm global trends and fresh foreign fund inflows. Buying in index
heavyweight Reliance Industries added to the momentum.

The Sensex climbed 545.25 points or 0.95% to close at
58,115.50. During the day, it fell 600.42 points or 1% to 58,170.67. The Nifty
surged 181.80 points or 1.06% to 17,340.05.

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The broader indices ended in green with the BSE Midcap
index up by 1.51%, while the Small cap index was up by 1.47%. The top gaining
sectoral indices on the BSE were Power up by 3.43%, Utilities up by 3.38%, Auto
up by 3.23%, Telecom up by 2.49%, and Industrials up by 2.31%, while there were
no losing sectoral indices on the BSE.

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Top gainers from the Sensex pack were Mahindra &
Mahindra up by 6.15%, Maruti Suzuki up by 2.64%, Reliance up by 2.64%, Kotak
Mahindra up by 2.42%, Bharti Airtel up by 2.40%, NTPC up by 2.39%, Power Grid
Corp up by 2.38%, UltraTech Cement up by 1.67%, ITC up by 1.52% and Wipro up by
1.25%.

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Among the laggards were Sun Pharma down by 2.65%, Hindustan
Unilever down by 1.45%, IndusInd Bank down by 0.40%, Nestle down by 0.40%,
Asian Paints down by 0.26%, and TCS down by 0.05%.

The rupee appreciated by 22 paise to close at 79.02 against
the US dollar, amid risk-on sentiments, the decline in crude oil prices, and
the weak US dollar.

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In Asia, markets in Seoul, Shanghai, Tokyo, and Hong Kong
ended higher.

Stock markets in Europe were trading in the green during
mid-session deals. The US stock markets had ended on a higher note on Friday.

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Brent crude, the international oil benchmark declined 1.35%
to $102.6 per barrel.

According to the stock exchange data, foreign institutional
investors remained net buyers in the capital markets as they bought shares
worth Rs 1,046.32 crore on Friday.

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“The big positive for the Indian market is the FPIs
turning buyers in July after nine months of relentless selling,” said V K
Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Foreign
investors turned net buyers and invested nearly Rs 5,000 crore in Indian
equities in July.