Closing Market: Positive leads from Asian markets, inflation eased in August and the outlook that the RBI will keep interest rates on hold in October are the few factors behind the strong footing market of the weekend.
PM Narendra Modi is likely to hold an economic review meeting later today, which gave the an impetus to the rupee as well as share markets. The meeting is expected to focus on exploring ways to stem the rupee’s fall against the US dollar.
The Nifty50 of NSE ended 145.30 points, up at 11,515.20 while the BSE Sensex closed higher by 372.68 points to 38,090.64. Sectorally, all the indices closed in the positive territory. Consumer durables, banking and oil and gas stocks witnessed healthy buying force.
Indiabulls, surging 6.98%, emerged as the top Nifty gainer followed by BPCL, Bajaj Finserv, HPCL and Vedanta, while HCL Tech, Coal India, Infosys and Gail India were top losers on the NSE.