On Monday, index heavyweights including Reliance Industries, HDFC Bank, Bajaj Finance, and Maruti Suzuki helped Indian benchmark indices extend their advances.
The S&P BSE Sensex finished the day up 465.14 points, or 0.8%, at 58,853. On the other hand, the Nifty50 rose 128 points, or 0.73 percent, to finish at 17,525.
Coal India, Mahindra and Mahindra, Bajaj Finserv, HDFC, Hindalco, Axis Bank, NTPC, L&T, HDFC, Dr Reddy's Labs, RIL, IndusInd Bank, and Apollo Hospitals were among the top gainers, each gaining between 1% and 3%. On downside, BPCL, SBI, Ultratech Cement, Britannia, Adani Ports, and Hero MotoCorp, on the other hand, all had declines of more than 1%.
The BSE MidCap and SmallCap indices each nudged up 0.3% in the larger markets. Sectorally, the Nifty PSU Bank index and Nifty IT index both declined by 0.4%. Every other index registered gains.
Indian markets are up after three weeks in a row, defying the bear market in global stocks.
According to Refinitiv statistics, foreign investors have purchased $1.79 billion worth of Indian stocks so far this month. Meanwhile, statistics indicated a gradual recovery in China's crude imports in July, oil prices remained close to multi-month lows on Monday.
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