Sensex closes above 52K mark, banking and financial stocks surge

Sensex closes above 52K mark, banking and financial stocks surge

Contained coronavirus infections and some broad indications of a rebound in economic activity boosted investor confidence on Monday with key equity indices trading at fresh lifetime highs.

Besides, firm global cues led banking and financial stocks to garner handsome gains.

The BSE SandP Sensex closed 610 points or 1.18 per cent higher at 52,154 while the Nifty 50 advanced by 151 points or 1 per cent to 15,315.

Sectoral indices at the National Stock Exchange were mixed with Nifty private bank up by 3.2 per cent, PSU bank by 2.2 per cent and financial service by 2.8 per cent.

But Nifty metal was down by 0.4 per cent and pharma by 0.3 per cent.

Among stocks, Axis Bank moved up by 6.2 per cent to Rs 797 per share.

ICICI Bank edged higher by 4.1 per cent, IndusInd Bank by 3 per cent and HDFC Bank by 2 per cent.