Sensex, Nifty Rally On Global Cues; Adani Group Stocks Top Gainers

Indian shares ended Monday’s session on a buoyant note, tracking firm cues from global markets and amid optimism around the upcoming interim Budget to be presented in Lok Sabha on February 1.

Positive global cues underpinned sentiment after China rolled out measures to prop up its equity market and property sector.

The dollar held steady in international markets on hopes of an early interest rate cuts by the Federal Reserve.

The benchmark S&P BSE Sensex jumped 1,240.90 points, or 1.76 percent, to 71,941.57 while the broader NSE Nifty index settled 385 points, or 1.8 percent, higher at 21,737.60.

ONGC jumped almost 9 percent as oil prices surged amid heightened tensions in the Middle East following a drone attack on U.S. forces in Jordan over the weekend by Iran-backed militants, according to the U.S. President Joe Biden.

Adani Ports, Adani Enterprises, Coal India and Reliance Industries rallied 4-7 percent while LTIMindtree, Infosys, ITC and Cipla fell 1-2 percent.

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