Stock market gains over 1%, Nifty closes near 23,000 mark

The Indian stock market on Monday ended with a gain of more than 1% in a volatile session, extending its gains for the third straight day.

Nifty finished near the 23,000 mark amid buying seen across the sectors, barring media and oil & gas.

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At close, the Sensex was up 787.30 points or 1.07 percent at 74,106.85, and the Nifty was up 255.15 points or 1.12 percent at 22,968.25. Nifty Midcap and Smallcap index rising 1.5 percent and 1.3 percent, respectively.

In terms of sectors, most of the indices ended higher except media and oil & gas. Realty, PSU Bank, Private Bank, consumer durables were up 2% each, while auto, metal, power up 1 %each.

On the BSE, 78 stocks, including CCL Products (India), Granules India, and RPSG Ventures, hit their 52-week highs on the BSE. On the other hand, Some 89 stocks, including JSW Infrastructure, Max Healthcare Institute, and Pidilite Industries, hit their 52-week lows in intraday trade on the BSE.

The overall market capitalisation of BSE-listed firms rose to over Rs 427 lakh crore from Rs 422 lakh crore in the previous session.

Indian rupee rose by 4 paise to close at 93.06 per US dollar.

Indian IT stocks traded higher in early deals, outperforming a weak broader market. Wipro led the gains, rising over 2 percent, while Infosys and Tech Mahindra advanced over 1 percent each, placing three IT names among the top gainers on the Nifty.

Asian markets also traded mostly in gains. Japan’s benchmark Nikkei 225 rose 0.6% to close at 53,413.68, while South Korea’s Kospi gained 1.4% to 5,450.33.