Sensex advances for 4th day, reclaims 58,000-mark

August 01, 2022 17:19

Equity indices darted up for the fourth straight session on Monday to close at over three-month highs, boosted by robust buying in market heavyweight Reliance Industries and auto stocks amid firm global trends.

Strong macroeconomic data and a sustained recovery in the rupee on the back of foreign fund inflows also buoyed sentiments, traders said.

The 30-share BSE Sensex climbed 545.25 points or 0.95 per cent to finish at 58,115.50. The benchmark closed above the 58,000-level for the first time after April 13 this year.

Similarly, the broader NSE Nifty advanced 181.80 points or 1.06 per cent to settle at 17,340.05. Auto stocks hogged the limelight in Monday's session as companies reported strong sales data for July.

Mahindra & Mahindra topped the Sensex gainers' chart, soaring 6.15 per cent after the auto major posted a 33 per cent increase in domestic passenger vehicles sales in the previous month.

Reliance Industries and Bharti Airtel climbed as much as 2.64 per cent following the culmination of India's biggest ever auction of airwaves, with spectrum worth Rs 1,50,173 crore being sold. Maruti Suzuki, Kotak Mahindra Bank, NTPC, PowerGrid and UltraTech Cement were among the other prominent gainers. However, Sun Pharma, Hindustan Unilever, IndusInd Bank, Nestle India, Asian Paints and TCS closed with losses of up to 2.65 per cent.

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