Mumbai: The BSE benchmark Sensex continued its winning run for the fifth straight session on Monday, rallying 192 points, and the NSE Nifty inched toward the 11,000 mark, riding on strong Q3 earnings by some bluechip companies, coupled with positive global cues.
Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains.
Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 percent. It touched a low of 36,351.77. The gauge had risen 533.05 points in the previous four sessions.
The Nifty touched the session high (intra-day) of 10,987.45; and finally closed the session with a rise of 54.90 points, or 0.50 percent, at 10,961.85.
"After opening in the green, market remained in the positive territory buoyed by positive global sentiments amid signs that the US and China were closing in on a trade truce," said Paras Bothra, President, Equity Research, Ashika Group.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Sentiment remained upbeat after Reliance Industries, HDFC Bank and few others posted better-than-expected Q3 numbers last week, traders said.
Among Sensex components, the oil-to-telecom conglomerate Reliance Industries zoomed 4.36 percent to its highest in two months in its second session of gains after reporting record quarterly earnings.
Shares of HDFC Bank jumped 0.72 percent after the private sector lender reported 20 percent rise in net profit in December 2018 quarter.
Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management said, "It is clearly morphing into a market where strong earnings are being rewarded. Capital continues to seek growth at reasonable prices."
As we move forward this year, the macro factors remain favourable, but stock performance is increasingly likely to be driven by earnings and fundamentals at the security level, he added.
Shares of Sun Pharmaceutical Industries rose 1.94 percent in opening trade after it sought intervention from market regulator Sebi, alleging unfair business practices against the company.
This is the first uptick in the counter after two successive sessions of beating, wherein the stock lost as much as 13.80 percent.
Others which supported the key indices were Kotak Bank (2.42 percent), Bajaj Finance (1.89 percent), Infosys (1.61 percent), Asian Paint (1.33 percent), TCS (0.28 percent), HUL (0.26 percent), Tata Steel (0.22 percent) and Vedanta (0.13 percent).
Laggards include Hero MotoCorp, Yes Bank, Maruti Suzuki, PowerGrid, Bajaj Auto, SBI, Tata Motors, ONGC, NTPC, Axis Bank, M&M, IndusInd Bank, ITC Ltd, Coal India, L&T, ICICI Bank, HCL Tech, Bharti Airtel and HDFC Ltd, falling up to 3.40 percent.
Mid-cap and small-cap indices ended lower by up to 0.70 percent as investors were seen booking profits in recent gainers.
Meanwhile, domestic institutional investors (DIIs) sold shares worth a net of Rs 124.91 crore, while foreign institutional investors (FIIs) offloaded shares to the tune of Rs 97 crore on Friday, as per provisional data.
Most of the other Asian bourses rose with Shanghai leading the gains, as investors hoped for more stimulus from China after disappointing growth, amid optimism about the US and China progressing with trade talks.
European shares were up in their early deals, tracking weekend gains at Wall Street.
Shanghai Composite Index rose 0.56 percent, while Japan's Nikkei gained 0.26 percent, Hong Kong's Hang Seng was up 0.39 percent, Taiwan 0.54 percent and Korea's KOSPI 0.02 percent.
European shares were somewhat weak in their late morning deals. Frankfurt's DAX was down 0.54 percent, while Paris CAC 40 shed 0.25 percent. London's FTSE, however, was up 0.15 percent.
The rupee, meanwhile, weakened against the dollar to 71.22 as Brent crude, the international benchmark, climbed to a two-month high of $62.94 per barrel.
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Updated Date: Jan 21, 2019 16:49:49 IST