Indian equity benchmarks witnessed a strong gaining rally
on Monday, with both Sensex and Nifty ended over 1% higher, recording their third
day of gains amid strong global market trends and fresh foreign fund outflows.
Market sentiment was also boosted by falling oil prices amid concerns that
widening COVID-19 curbs in China will reduce demand, while India, the world’s
third-biggest oil importer, benefits from a slide in prices as it brings down
imported inflation.

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Extending its rally to the day high of 60,786.70, the Sensex closed 786.74 points or 1.31% higher to 60,746.59 points. The Nifty rose 224.55 points or 1.26% higher to 18,011.35. 

The broader indices ended green with the BSE Midcap index gained 1.24% and the Smallcap index was up by 0.45%.  The top gaining sectoral indices on the BSE were Auto up by 1.57%, Capital Goods up by 1.54%, TECK up by 1.45%, Industrials up by 1.43% and Consumer Durables was up by 1.41%, while there were no losing sectoral indices on BSE.

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Top gainers from the Sensex pack were Ultratech Cement up by 4.02%, HDFC Ltd 2.89%, Sun Pharma 2.75%, Mahindra and Mahindra 2.70%, HDFC Bank 2.60%, Larsen and Toubro 2.50%, Bajaj Finserv 2.08%, Bajaj Finance 1.85%, Bharti Airtel 1.76% and Asian Paints 1.74%

The only laggards were Dr. Reddy’s Lab down by 0.66%, NTPC down by 0.60% and IndusInd Bank down by 0.43%.

The Indian rupee fell 31 paise to close at 82.78 against the US dollar on Monday.

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Asian markets settled mostly higher with the KOSPI Composite up by 1.11%, the Nikkei 225 up by 1.78%, while Shanghai Composite down by 0.77% and the Hang Seng down by 1.18%.

European stock exchanges were trading mixed in mid-session deals. The US equity markets ended higher on Friday.

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Brent crude futures, the international oil benchmark declined 0.31% to $95.47 per barrel.

According to stock exchange data, foreign institutional investors purchased shares worth a net of Rs  1,568.75 crore on Friday.