sensex: D-Street snaps losing streak, Sensex climbs 375 points, Nifty tops 24,900 on banking, consumer stock gains

Indian headline equity indices, Sensex and Nifty50, closed higher on Monday, driven by gains in banking and consumer stocks, despite lingering concerns over the U.S. economy following last week’s jobs data, which indicated a continued slowdown in the labor market.

The BSE benchmark Sensex rose by 375 points, or 0.46%, to settle at 81,559, while the broader NSE Nifty gained 93 points, or 0.34%, to end at 24,936.

HUL, ICICI Bank, ITC, Kotak Bank, IndusInd Bank, Axis Bank, HDFC Bank, and Nestle India were the top gainers on the Sensex, with gains ranging from 0.5% to 3%. In contrast, Tech Mahindra, Tata Steel, NTPC, Tata Motors, and Power Grid closed in the red.

On the sectoral front, Nifty FMCG rose over 2%, led by Godrej Consumer Products, Dabur, and UBL, while Nifty Bank gained more than 1%. Meanwhile, the more domestically focused small- and mid-cap indices fell by 0.93% and 0.26%, respectively.

Among individual stocks, budget airline SpiceJet closed over 4% higher after entering an agreement with Carlyle Aviation Management to restructure aircraft lease obligations of about $137.6 million.

Energy solutions provider Deep Industries closed with a 20% upper circuit following an order worth Rs 1,402 crore from Oil & Natural Gas Corporation (ONGC).