Mumbai, February 9 The benchmark equity indices, Sensex and Nifty, continued their gains on Monday for the second consecutive session, driven by optimism regarding the India-US trade deal and strong buying in public sector banks, consumer durables, and real estate stocks.
The 30-share BSE Sensex rose by 485.35 points, or 0.58 per cent, to close at 84,065.75. During the day, the benchmark surged by 734.28 points, or 0.87 per cent, to hit an intraday high of 84,314.68.
The 50-share NSE Nifty appreciated by 173.60 points, or 0.68 per cent, to settle at 25,867.30. During the session, the index climbed by 228.55 points, or 0.88 per cent, to hit a high of 25,922.25.
Among the 30-share constituents, State Bank of India, Titan, UltraTech Cement, Tata Steel, Eternal, Bharat Electronics Ltd, Kotak Mahindra Bank, IndiGo, Trent, Mahindra & Mahindra, Larsen & Toubro, Sun Pharmaceuticals, and Asian Paints were the gainers.
On the other hand, PowerGrid, NTPC, ITC, ICICI Bank, Infosys, HDFC Bank, Tech Mahindra, Maruti Suzuki India and Axis Bank were the laggards.
"Positive signals from the trade deal, coupled with the return of FIIs, fueled a risk-on sentiment in the market. Investors are closely watching upcoming results, with PSU banks delivering stronger-than-anticipated performance, helping the PSU bank index outperform," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
He added that an accumulation strategy was observed in consumer durables and real estate stocks following the recent correction, driven by expectations of a demand revival.
"The recovery was broad-based, with sectors such as cement, capital goods, textiles, and consumer discretionary attracting investor interest, supported by union budget proposals and favourable trade deals," Nair said.
In Asian markets, Japan's Nikkei 225 index, South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index closed higher.
European markets were quoting higher. US markets ended higher on Friday.
Brent crude, the global oil benchmark, declined by 0.81 per cent, to USD 67.52 per barrel.
Foreign institutional investors (FIIs) bought equities worth Rs 1,950.77 crore on Friday, according to exchange data.
On Friday, the 30-share BSE Sensex advanced by 266.47 points to settle at 83,580.40, while the NSE Nifty climbed by 50.90 points to end at 25,693.70.