Market snaps 5-day losing trend, up over 340 pts

Benchmark BSE Sensex rebounded by 341 points on Monday, snapping its five-day losing streak following buying in banking stocks and a sharp rally in global shares.

- AGENCIES MUMBAI

The 30-share BSE Sensex climbed 341.04 points or 0.46 per cent to settle at 74,169.95 as 19 of its constituents ended in the green and 11 in the red. In intraday trade, the benchmark jumped 547.44 points or 0.74 per cent to 74,376.35.

The NSE Nifty rose by 111.55 points or 0.50 per cent to 22,508.75.

From the Sensex pack, Bajaj Finserv, Mahindra & Mahindra, Axis Bank, Bajaj Finance, Adani Ports, ICICI Bank, Zomato and Ultra Tech Cement were among the biggest gainers.

However, ITC, Nestle, State Bank of India, Reliance Industries, Asian Paints and Tata Consultancy Services were among the laggards.

Shares of IndusInd Bank jumped 5.30 per cent in intra-day trade after the Reserve Bank on Saturday assured customers that the firm remains 'well-capitalised', even as it directed the bank's board to complete remedial action relating to an estimated Rs 2,100 crore accounting discrepancy within this month. The stock finally ended at Rs 676.95, up 0.72 per cent.