SENSEX surges 454 pts, NIFTY50 ends above 23, 300; Kotak Mahindra Bank shares rally

Benchmark SENSEX spurted by 454 points and NIFTY closed above 23,300 on Monday following gains in banking stocks, mainly Kotak Mahindra Bank, and firm global trends.

The 30-share BSE SENSEX jumped 454.11 points or 0.59% to settle at 77,073.44. Intra-day, it surged 699.61 points or 0.91% to 77,318.94.

The NIFTY50 climbed 141.55 points or 0.61% to 23,344.75 with 29 of its constituents ending higher.

Among SENSEX shares, Kotak Mahindra Bank jumped over 9% after the firm posted a 10% growth in its consolidated net profit at ₹4,701 crore, aided by the performance of capital markets-linked arms.

Bajaj Finance, Bajaj Finserv, NTPC, State Bank of India, Power Grid, HDFC Bank, Tech Mahindra and Asian Paints were the other gainers.

However, Zomato, Adani Ports, Tata Consultancy Services, Mahindra & Mahindra, Maruti and Tata Motors were among the laggards.

In Asian markets, Tokyo, Shanghai and Hong Kong settled in the positive territory while Seoul ended lower. Markets in Europe were trading higher. US markets ended in the green on Friday.

Global oil benchmark Brent crude dipped 0.36% to $80.50 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth ₹3,318.06 crore on Friday, according to exchange data.

The BSE benchmark declined 423.49 points or 0.55% to settle at 76,619.33 on Friday. The NIFTY dropped 108.60 points or 0.47% to 23,203.20.