Mumbai: An across-the-board rally led the benchmark Nifty to close above 7,600 mark on the National Stock Exchange (NSE) Monday.
Investor sentiment was bolstered by hopes of a strong Budget to be presented in the Parliament on July 10 as well as moderation in global crude oil prices. The market also received support from good FII buying, said equity dealers.
Hectic buying was seen in key banking, pharma, energy, FMCG, infra, metal and auto counters, with broader markets of shares from mid-cap and small-cap companies outperforming the large-cap Nifty with heavy buying.
Meanwhile, Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 182.55 crore last Friday as per the provisional data from the stock exchanges.
The 50-share index opened green at 7,534.05 and traded between a high of 7,623.65 and a low of 7,531.60 before finishing at 7,611.35, a sharp rally of 102.55 points or 1.37 percent, over its last close.
Other Asian markets ended mixed ahead of US economic data.
Energy stocks were star performers in today's trade with state-owned BPCL gaining 5.39 percent. Infra major IDFC rose 5.26 percent, PNB 4.28 percent, SunPharma 4.10 percent and Tata Power 3.85 percent.
Other gainers were Bank of Baroda, ONGC, DR Reddy, BHEL and ACC.
Turnover in the cash segment rose to Rs 17,339.57 crore from Rs 16,130.23 crore last Friday. A total of 9,862.03 lakh shares changed hands in 69,15,380 trades, while the market capitalisation stood at Rs 88,54,702 crore.
