Sensex rises 125 points; Nifty ends above 16,250

Sensex rises 125 points; Nifty ends above 16,250

M&M was the top gainer in the Sensex pack, rising over 2 per cent, followed by Axis Bank, Tech Mahindra, Bajaj Finserv, IndusInd Bank, Titan and Dr Reddy’s

Representative Image. Credit: PTI File Photo

Equity benchmark Sensex rose 125 points on Monday, tracking gains in index majors Infosys, ICICI Bank and Axis Bank amid a largely positive trend in Asian markets.

The 30-share index ended 125.13 points or 0.23 per cent higher at 54,402.85, while the broader NSE Nifty advanced 20.05 points or 0.12 per cent to 16,258.25.

M&M was the top gainer in the Sensex pack, rising over 2 per cent, followed by Axis Bank, Tech Mahindra, Bajaj Finserv, IndusInd Bank, Titan and Dr Reddy’s.

On the other hand, Bharti Airtel, Tata Steel, L&T, NTPC and Bajaj Finance were among the laggards.

Domestic equities traded sideways, and profit-booking was seen at tops, said Binod Modi, Head-Strategy at Reliance Securities.

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Notably, financials and IT supported the market and arrested fall, while most key sectoral indices traded in red.

"Visible economic recovery indicating strong credit growth in subsequent months and likely opening of complete economy eased concerns with regards to asset quality of banks, which essentially aided financials today," he added.

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended with gains, while Seoul was in the red.

Stock markets in Europe were trading on a negative note in mid-session deals.

Meanwhile, international oil benchmark Brent crude fell 3.95 per cent to $67.91 per barrel.