The primary indices of the Indian stock markets, the Sensex and Nifty, rose by around 2% on Monday, boosted by robust buying support in IT sectors and good global equity indications.
The 30-stock S&P BSE Sensex rose 1041.08 points, or 1.90 percent, to 55,925.74 points, up from 54,884.66 points the day before.
This is the third session in a row that the Indian stock markets have rallied. In the previous trading session, the Sensex had gained 632.13 points, or 1.17 percent.
The National Stock Exchange’s broader Nifty 50 index rose 308.95 points, or 1.89 percent, to 16,661.40 points, up from its previous session’s close of 16,352.45 points.
On Friday, the Nifty gained 182.30 points, or 1.13 percent. For IT equities, there was a lot of purchasing interest.
The Nifty IT index increased by about 4%. The stock of Infosys rose 4.57 percent to Rs 1527.55.
The stock of HCL Technologies jumped 3.57 percent to Rs 1039.70. Tech Mahindra’s stock increased by 3.59 percent to Rs 1163.90. Tata Consultancy Services increased by 3.47 percent to Rs 3375.55 per share.