Sensex, Nifty settle higher for second straight day as Reliance, ICICI Bank gain

Mahindra & Mahindra climbs 3.81 pc, Axis Bank goes up 2.68 pc

Exit polls, election verdict to set market trend: analysts [File] Representational image | Amey Mansabdar

Benchmark indices Sensex and Nifty closed higher for the second straight session on Monday, boosted by buying in index heavyweights Reliance Industries, ICICI Bank and M&M amid a positive trend in global markets.

The 30-share BSE Sensex climbed 240.36 points or 0.38 per cent to settle at 62,787.47. During the day, it jumped 396.09 points or 0.63 per cent to 62,943.20.

The NSE Nifty advanced 59.75 points or 0.32 per cent to end at 18,593.85.

From the Sensex pack, Mahindra & Mahindra climbed 3.81 per cent and Axis Bank advanced 2.68 per cent, followed by Tata Motors, Larsen & Toubro, Tata Steel, ICICI Bank, Reliance Industries, Maruti, IndusInd Bank and Sun Pharma.

Asian Paints, Tech Mahindra, Nestle, Hindustan Unilever, Kotak Mahindra Bank and ITC were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the green.

Equity markets in Europe were trading on a mixed note. The US markets ended significantly higher on Friday.

US President Joe Biden signed legislation on Saturday that lifts the nation's debt ceiling, averting an unprecedented default on the federal government's debt.

India's services sector growth eased slightly in May, but registered the second-strongest rate of growth in close to 13 years, on favourable demand conditions and new client wins, a monthly survey said on Monday.

The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 62 in April to 61.2 in May. Despite falling from April, the latest reading indicated that output increased at the second-quickest pace since July 2010.

Global oil benchmark Brent crude jumped 1.92 per cent to $77.59 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 658.88 crore on Friday, according to exchange data.

The BSE benchmark climbed 118.57 points or 0.19 per cent to settle at 62,547.11 on Friday. The Nifty advanced 46.35 points or 0.25 per cent to finish at 18,534.10.

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