Stock market closes on positive note, Sensex gains 638 pts

The Indian stock indices closed on a positive note on Monday.

- TBG NETWORK

At close, Nifty was at 26,172.40, up 206 points, or 0.78% while Sensex closed at 85,567.48, up 638.12 points or 0.75%. The BSE Midcap index rose by 0.86% and the Small-cap index jumped 1.12%. Almost all the major sectoral indices traded in positive territory. Sectors including IT, metals, capital goods, and financials recorded gains, while real estate and consumer durables were the key laggards. The rupee rose for the second consecutive session as it opened 24 paise up at 89.41 against the US dollar after closing at 89.65. Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said the rupee traded flat near 89.65, holding in a narrow 89.45-89.65 range as a weaker dollar index around 98.45 and positive sentiment in domestic capital markets offered support. “The currency has shown a technical reversal after recent intervention-led buying from last week's lows near 91, stabilising the currency for now, improving short-term stability. Market fo