Snapping six consecutive sessions of losing run, the Indian stock markets' key indices, Sensex and Nifty, closed in the positive on Monday led by good buying support in power, banking and financial stocks.
The 30 stock S&P BSE Sensex closed 180.22 points or 0.34 per cent higher at 52,973.84 points against its previous session's close at 52,793.62 points.
Earlier, the Sensex started the day in the positive at 52,946.32 points and jumped to a high of 53,428.28 points in the morning trade. However, the Sensex slipped into the negative in the afternoon session falling to a low of 52,632.48 points.
The Sensex has closed in the positive for the first time in the last seven trading sessions. The index had lost 136.69 points or 0.26 per cent on Friday, the last trading session.
The broader Nifty 50 of the National Stock Exchange closed 60.15 points or 0.38 per cent higher at 15,842.30 points against its previous session's close at 15,782.15 points.
There was good buying support in power, banking and financial stocks. NTPC jumped 3.05 per cent to Rs 148.45. Bajaj Finance climbed 2.37 per cent to Rs 5646.05. State Bank of India soared 2.27 per cent to Rs 455.15. Maruti Suzuki, HDFC, Kotak Bank and IndusInd Bank were among the major Sensex gainers.
UltraTech Cement slumped 3.01 per cent to Rs 6013.05 after Adani Group clinched a deal to buy Ambuja Cements and ACC from Holcim Ltd. Share prices of Ambuja Cements and ACC have surged while rival UltraTech Cement and Shree Cements declined.
Asian Paints slumped 2.15 per cent to Rs 2999.45. ITC, Tech Mahindra, Nestle India, TCS and HCL Technologies were among the major Sensex losers. (ANI)