Sensex rises 469 points; banking, IT stocks shine

The Indian equities markets key indices, Sensex and Nifty, rallied by nearly one per cent on Monday led by strong buying support in banking and IT stocks.

Mumbai (Maharashtra):The Indian equities markets key indices, Sensex and Nifty, rallied by nearly one per cent on Monday led by strong buying support in banking and IT stocks. Despite the continued uncertainty and ongoing conflict between Russia and Ukraine, the Indian equities market started the week on a positive note.

The Sensex started the day in the positive at 55,614.40 points and surged to a high of 56,128.72 points. At 12.24 pm, the 30 stock S&P BSE Sensex was trading 469.27 points or 0.84 per cent higher at 56,019.57 points against its previous session's close at 55,550.30 points.

The broader Nifty 50 of the National Stock Exchange was trading 108.90 points or 0.65 per cent higher at 16,739.35 points against its previous session's close at 16,630.45 points. There was good buying support in IT, banking and financial stocks.

Infosys jumped 2.65 per cent to Rs 187020. Wipro rose 2 per cent to Rs 597.90. HCL Technologies jumped 1.42 per cent to Rs 1210.50. Tech Mahindra was trading 0.97 per cent higher at Rs 1501.30.

State Bank of India surged 2.57 per cent to Rs 482.50. HDFC Bank was trading 2.53 per cent higher at Rs 1432.40. ICICI Bank jumped 2.43 per cent to Rs 694.50. Axis Bank was trading 1.83 per cent higher at Rs 703.55.

Fourteen of the 30 scrips that are part of the Sensex were trading in the red. Hindustan Unilever, Bajaj Finance, Tata Steel, Sun Pharma and Power Grid Corporation were among the major Sensex losers.