Sensex, Nifty Follow Global Peers Higher; IT Stocks Lead Gains
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(RTTNews) - Indian shares rose notably on Monday after major U.S. indexes reached record closing highs on Friday, buoyed by strong earnings results from the likes of JPMorgan Chase and Wells Fargo, and a benign producer price inflation reading.
A sharp drop in oil prices also boosted sentiment after China reported disappointing inflation and trade balance figures and made a stimulus announcement over the weekend that failed to inspire confidence among investors.
The benchmark 30-share BSE Sensex surged 591.69 points, or 0.73 percent, to 81,973.05 while the broader NSE Nifty index ended up 163.70 points, or 0.66 percent, at 25,127.95.
Wipro topped the gainers list to end 4.2 percent higher at Rs. 550.70 after the company proposed to consider a bonus issue.
Larsen & Toubro, HDFC Bank, HDFC Life and Tech Mahindra rallied 2-3 percent while Adani Enterprises, Bajaj Finance, Tata Steel, Maruti Suzuki India and ONGC dropped 1-2 percent.
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