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

Turning Around

- KISHOR KADAM

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

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%.