Sensex up 296 points, Nifty settles at 17,086.25

Key benchmark equity indices on Monday rebounded from early losses and closed higher thanks to buying in banking, IT, and pharmaceutical stocks, while global indices were mixed. The Sensex ended up at 57,420.24, up 295.93 points or 0.52 percent, while the Nifty50 index ended up at 17,086.25, up 82.50 points or 0.49 percent. The Nifty Pharma sub-index of the NSE gained 1.62 percent, making it the highest gainer among sector indexes.

Tech Mahindra led the Nifty gainers with a 3.43 percent gain, followed by Cipla and Dr Reddy's Labs with 2.17 percent and 1.94 percent gains, respectively. Other notable gainers in the Nifty included UPL, Kotak Mahindra Bank, ICICI Bank, SBI Life Insurance, Sun Pharma, HDFC, Cipla, HDFC Bank, Tata Motors, Bajaj Finserv, Tata Steel, and Axis Bank, which rose between 0.83 percent and 1.76 percent.

The worst performer among Nifty stocks was Hindalco, which plummeted 1.33 percent, followed by ONGC and Britannia Industries, which fell 0.83 percent and 0.79 percent, respectively. Other Nifty declines included IndusInd Bank, Asian Paints, Maruti Suzuki, ITC, Reliance Industries, Shree Cements, and Tata Consumer Products.

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