RIL, IT stocks propel Sensex 1,041 pts up; Nifty tops 16,650; Ethos dips 9% – Business Standard

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Stock market highlights: 

Equity markets rose in tandem with global peers even as Brent crude prices went past the $120/barrel-mark. The S&P BSE Sensex held on to its gains as it ended 1,041 points, or 1.9 per cent, higher at 55,926. The Nifty50, too, surpassed the crucial 16,650-mark to end at 16,661, up 309 points or 1.89 per cent.

The broader BSE MidCap and SmallCap indices also climbed over 2 per cent each. 

Among individual stocks, Titan, Infosys, M&M, L&T, Reliance Industries, HCL Tech, TCS, and Tech M were the lead gainers, rallying between 3 per cent and 5 per cent. Ultratech Cement, Bajaj Finance, Wipro, Bharti Airtel, and HDFC, meanwhile, added over 1.5 per cent each.

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In the mid- and small-cap space, 3M India, Jubilant FoodWorks, IRCTC, Crompton Greaves, Ashoka Buildcon, Technicraft Industries, and Unichem Labs were the outperformers.

Sectorally, the Nifty IT and Realty indices advanced 4 per cent each; the Nifty PSU Bank index 3.3 per cent; and the Nifty Auto index 2 per cent.

ALSO READ: What fuelled the surge on Monday?

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Shares of Ethos ended at Rs 802 per share, down 8.6 per cent as against its issue price of Rs 878, on the BSE.  

European stocks advanced on Monday as the US dollar weakened. The pan-European Stoxx 600 added 0.8 per cent in early trade, with tech stocks climbing 2.5 per cent to lead gains. Markets in the US are closed Monday for the Memorial Day holiday. 

Earlier in Asia, Japan’s Nikkei 225 added 2.3 per cent, and South Korea’s Kospi gained 1.2 per cent.  

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