Sensex rallies 478 points, Nifty ends above 18,000; PSU banks, metals rally

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Indian benchmark share indices recouped early losses during second half of the trading session on Monday to end higher led by gains in HDFC, Infosys, Kotak Bank and Bajaj Finserv.

Sensex rallied 477.99 points or 0.80% to end at 60,545.61, while the broader Nifty closed at 18,068.55, up 151.75 points or 0.85%.

Gainers and losers

Titan, rallying over 4%, was the top Sensex gainer followed by Ultratech Cement, Bajaj Finserv, TechM, Kotak Bank and HDFC. On the other hand, IndusInd Bank, diving nearly 11%, followed by Mahindra & Mahindra, SBI and Maruti were among the laggards.

Shares of IndusInd Bank tanked 12% intraday to touch an intraday low of Rs 1042.10 apiece after the bank issued clarification on whistleblower allegations.

Of 30 Sensex shares, 21 closed in the green.

Sectoral trend

Most sectoral indices on the NSE closed in the green. Nifty PSU Bank, adding 2.15%, was the top sectoral gainer followed by Nifty Metal, up 1.45% and Nifty Media, up 1.42%. Nifty Private Bank, Nifty Bank and Nifty Pharma settled in the red.

Global markets

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive. Stock exchanges in Europe were largely trading in the red in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 1.15% to $83.69 per barrel.