Mumbai : It was blockbuster Monday for stock markets as the BSE Sensex recaptured the 28,000-mark after 11 months and the Nifty closed at a 15-month high on hopes of GST bill passage and G20 policymakers agreeing on measures for boosting global growth.
Driven by the rally, total market valuation of the BSE- listed firms surged to an all-time high of Rs 108 lakh crore.
Firm European advices also boosted trading sentiment as provisional figures showed that Foreign Portfolio Investors (FPIs) pumped Rs 891 crore into equities on the day.
Stocks with higher overseas exposure zoomed with country’s largest carmaker and the bank being the biggest beneficiaries from the Sensex pack. Maruti Suzuki surged 3.11 per cent to Rs 4,550.60, while SBI gained 2.86 per cent to Rs 229.85.
However, pharmaceutical firm Dr Reddy’s took the biggest hit, down 3.62 per cent at Rs 3474.85.
“Putting a tepid week behind, stocks and indices pushed to new peaks supported by consistent inflows and hopes of GST passage. The usual concern before FOMC meeting was missing, helped by negligible prospects of a rate hike soon, given Brexit uncertainties,” said Anand James Chief Market Strategist at Geojit BNP Paribas Financial Services Ltd.
Meanwhile, the Group of 20 major economies, including India, has vowed to deploy all policy tools to foster confidence and boost global environment for growth, which they said was “challenging” and uncertain after UK’s decision to exit the world’s largest single market, the EU.
The Sensex resumed higher at 27,753.96 and firmed up to a high of 28,110.37 before ending at 28,095.34, showing a rise of 292.10 points or 1.05 per cent. It had last ended at 28,101.92 on August 10, 2015.
The Nifty rose 94.95 points or 1.11 per cent to close at 15-month high of 8,635.65 — its highest closing since April 16, 2015, at 8,706.70.
Buying activity also gathered momentum in retail markets as the BSE small-cap index rose by 1.05 per cent while mid-cap gained 1 per cent.
Overseas, European shares were higher on developments in G20 meeting with key indices like France, Germany and the UK rising between 0.08 per cent and 1.02 per cent.
Earlier in the day, Asian shares ended narrowly mixed as indices in China, Hong Kong and South Korea rose by up to 0.13 per cent while indices in Japan, Singapore and Taiwan eased by 0.04 per cent to 0.53 per cent.
In the domestic market, 26 scrips out of the 30-share Sensex pack ended higher.
Major gainers included Asian Paints (2.25 pc), ICICI Bank (2.12 pc), ONGC (1.91 pc), Sun Pharma (1.87 pc), HDFC (1.80 pc), TCS (1.69 pc), M&M (1.31 pc), HDFC Bank (1.23 pc), Lupin (1.08 pc), Cipla (0.94 pc) and Wipro (0.92 pc).
However, GAIL fell 1.04 per cent followed by Bajaj Auto 0.76 per cent and Tata Steel 0.41 per cent.
Among the BSE sector and industrial indices, bankex gained 1.65 per cent, finance 1.61 per cent, oil&gas 1.52 per cent, consumer durables 1.38 per cent, energy 1.34 per cent, realty 1.15 per cent, teck 0.96 per cent, power 0.96 per cent, IT by 0.96 per cent and auto 0.95 per cent.
The market breadth remained positive as 1,724 stocks ended higher and 990 declined while 198 ruled unchanged.
Total turnover rose to Rs 3,866.53 crore from Rs 3,319.14 crore last Friday.