Markets snap four-day losing streak; metal stocks rally

Indian benchmark equity indices settled in the green on Monday as fresh buying was seen across metals, banks and financial counters. Sensex ended 533.74 points or 0.91% higher at 59,299.32. Likewise, the NSE Nifty surged 159.20 points or 0.91% to 17,691.25. NTPC, rising around 4%, was the top Sensex gainer followed by Bajaj Finserv, SBI, Bajaj Finance, Tech Mahindra, Dr Reddy’s and Tata Steel. Bajaj Auto, HUL, Nestle India, Kotak Bank and Titan were among the laggards. All sectoral indices on the NSE closed in the green. Nifty Metal, closing 3% higher, was the top sectoral gainer followed by Nifty Media, Nifty Realty, Nifty PSU Bank and Nifty Pharma. The overall market breadth was positive as 2,333 stocks advanced on the BSE, while 1,016 declined and 192 remained unchanged. In Asia, stock exchanges in Hong Kong and Tokyo ended with heavy losses, while Shanghai and Seoul were closed for holidays.