Sensex surges 814 points on broad-based rally ahead of Budget

Mumbai [India]: The Indian equities markets benchmark Sensex surged 814 points on Monday led by strong buying support in IT, banking and energy stocks, a day ahead of the presentation of Union Budget 2022-23.

Reversing the trends of the last week's sell-off the key indices of the Indian stock markets witnessed a strong rally on Monday. The 30 stock S&P BSE Sensex closed at 58,014.17 points, which is 813.94 points or 1.42 per cent higher from its previous session's close at 57,200.23 points.

Earlier the Sensex opened 645 points higher at 57,845.91 points. The index touched a high of 58,257.63 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange closed at 17,339.85 points, 237.90 points or 1.39 per cent higher when compared with its previous session's close at 17,101.95 points.

There was broad-based buying support. Only three of the 30 scrips that are part of the Sensex closed in the red. Of the 50 scrips that are part of the Nifty only six declined.

There was strong buying support in IT, pharma and energy stocks.

Tech Mahindra surged 4.88 per cent to Rs 1479.35. Wipro soared 3.70 per cent to Rs 572.65. Infosys climbed 3.05 per cent to Rs 1736.70. TCS closed 1.29 per cent higher at Rs 3737.90.

Bajaj Finserv 3.22 per cent higher at Rs 15689.85; State Bank of India 2.87 per cent higher at Rs 538.35; Power Grid Corporation 2.50 per cent to Rs 215.40; Reliance Industries 2.18 per cent higher at Rs 2386.35; Dr Reddy's Laboratories 1.98 per cent higher at Rs 4301.40 and Titan 1.94 per cent higher at Rs 2360.90 were among the major Sensex gainers. (ANI)