Sensex soars 465 pts, Nifty tops 17,500; all except PSBs rally; SBI dips 2%

CLOSING BELL

Stock market highlights: Benchmark indices gained from strength to strength on Monday amid a broad-based rally. The S&P BSE Sensex surged over 500 points in the intra-day trade, but eventually settled at 58,853, up 465 points or 0.8 per cent. The Nifty50, on the other hand, gained 128 points, or 0.73 per cent, to close at 17,525.

Coal India, M&M, Bajaj Finserv, HDFC Bank, Hindalco, Axis Bank, NTPC, L&T, HDFC, Dr Reddy's Labs, RIL, IndusInd Bank, and Apollo Hospitals were the top gainers on the 50-pack index today, advancing between 1 per cent and 3 per cent. On the downside, BPCL, SBI, Ultratech Cement, Britannia, Adani Ports, and Hero MotoCorp fell over 1 per cent each.

In the broader markets, the BSE MidCap and SmallCap indices edged 0.3 per cent higher each. Sectorally, the Nifty PSU Bank index slipped 0.4 per cent, followed by the Nifty IT index (down 0.02 per cent). All other indices clocked gains.