Sensex extends gains to second straight day as banks, L&T lift Dalal Street

Domestic equity benchmarks extended gains to a second straight session on Monday led by strong buying interest in banking stocks and heavyweights such as Larsen & Toubro (L&T). Daily additions in Covid-19 infections in the country stayed below the 3,00,000-mark for the eighth day in a row, boosting investors’ sentiment on Dalal Street.

The S&P BSE Sensex index ended 111.42 points or 0.22 per cent higher at 50,651.90 and the broader NSE Nifty 50 benchmark settled at 15,197.70, up 22.40 points or 0.15 per cent from its previous close.

Among the blue-chip stocks, Indian Oil was the top gainer, ending 4.89 per cent higher. Bharat Petroleum, SBI, L&T, Eicher Motors and

were among other top performers.

On the other hand, Shree Cement was the top laggard, ending with a cut of 2.51 per cent. JSW Steel, Tata Steel, Britannia,

and Tata Consumer were among other losers.

SBI closed 2.44 per cent higher, extending gains after its Q4 earnings beat analysts’ expectations.

Nifty PSU Bank was the top gainer among the sectors tracked by NSE, ending the day 2.13 per cent higher. Nifty Bank rose 0.97 per cent.

On the other hand, select stocks in the metals and consumer goods spaces witnessed selling pressure. Nifty Metal declined 0.60 per cent and Nifty FMCG 0.34 per cent.

Equities in other Asian markets got off to a cautious start as investors awaited key US inflation data for more clarity on interest rates ahead.

THIS IS A DEVELOPING STORY. MORE TO COME…