NEW DELHI: All round buying, especially in banking and metal stocks, lifted benchmark indices for a second consecutive session on Monday amid mixed global cues as investors shrugged off disappointing macroeconomic data.
In line with a contraction in manufacturing PMI, India’s Service PMI fell to 41.2 in June from 46.4 in the previous month. However, that did not have any negative impact on Dalal Street.
The 30-share pack Sensex rose 395.33 points or 0.75 per cent to close at 52,880. Its broader peer NSE Nifty added 112.15 points or 0.71 per cent to settle at 15,834.35.
“Strong job data signalled that the US economy is recovering at a steady pace which eased concerns over an earlier-than-expected interest rate hike by the Fed. Overall optimism boosted the appetite for most sectors barring IT and pharma, while smallcap and midcap stocks continued their outperformance,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- HFCL hits 20% upper circuit after co sets up another wifi village
- DMart rises 1% on Q1 biz update; analysts unimpressed
- Yes Bank shares end in the red after Q1 update
- Sadbhav Engineering tanks 5% on profit booking post Q4 results
- IT stocks see profit booking; Nifty IT sole sectoral loser on NSE
