Indices snap 2-day losing streak, advance nearly 1%

THE BENCHMARK INDICES surged nearly 1% on Monday, in line with gains across Asian markets, shrugging off concerns over ongoing geopolitical tensions.

- KISHOR KADAM

The investor sentiment was further buoyed by encouraging macroeconomic data — wholesale price index inflation fell to a 14-month low of 0.39% in May, while the trade deficit narrowed to $21.88 billion from $26.42 billion in April.

Snapping a two-day losing streak, the Sensex jumped 677.55 points, or 0.84%, to close at 81,796.15. The Nifty surged 227.90 points, or 0.92%, to end at 24,946.50. In the previous two sessions, both the indices had declined by up to 1.69%.

Foreign portfolio investors net sold shares worth ₹2,539.42 crore while the domestic institutional investors bought equities worth Rs 5,780.96 crore, as per provisional data from the BSE.