Dalal Street is extending the weekend party into Monday as the bulls are back but for how long? Sensex soared over 1000 points in intraday trade while Nifty added 300 points to its tally.
Sectors across the board participated with tech taking the lead in the rebound. The frontline tech stocks like Infosys, TCS, Tech Mah all rose above 3% while midcap tech extended the gains into 6% a piece. Even foodtech startup Zomato rallied 8% as the market breadth favoured the advances to the declines 2:1.
Stocks in the news included Nifty leader M&M that hit a fresh record high as it reported a five-fold jump in quarterly profit. Reliance Industries remained the most actively traded stock on the index in Monday's trade.
US markets will be shut for trade on Monday on account of Memorial Day holiday.