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The Sensex and Nifty ended higher on Monday, reversing two consecutive sessions of falls, with Tata Motors among top gainers after its unit Jaguar Land Rover reported favourable quarterly figures on Friday.
The BSE index ended 120.41 points or 0.43 per cent higher at 27,902.66, while the broader NSE index closed up 34.9 points or 0.41 per cent at 8,607.45.
Among BSE sectoral indices, auto index gained the most by 1.44 per cent, capital goods 1.17 per cent, metal 1.07 per cent and oil & gas 0.38 per cent. On the other hand, IT index was down 0.89 per cent,realty 0.81 per cent, TECk 0.59 per cent and healthcare 0.29 per cent.
Top five Sensex gainers were Tata Motors (+4.18), Reliance (+2.85%), Hero MotoCorp (+2.81%), ICICI Bank (+2.1%) and L&T (+1.99%), while the major losers were Wipro (-2.33%), L&T (-2.15%), HDFC Bank (-1.55%), TCS (-1.09%) and Asian Paints (-1.06%).
Shares of Tata Motors Ltd were the biggest gainers on the NSE index, as investors took comfort from the performance of JLR and were hopeful about its outlook.
Adani Enterprises Ltd gained as much as 2.8 per cent after an Australian court dismissed a plea from activists to prevent mining at the Carmichael mine.
IT stocks were the biggest laggards on the NSE index, with HCL Technologies Ltd, Tata Consultancy Services Ltd , Wipro Ltd and Tech Mahindra Ltd the top percentage losers.
The dollar rose to a three-week high against the yen on Monday, while bond yields surged to their highest since June and stocks sold off after senior Federal Reserve officials indicated a US interest rate increase was on the cards in the near term.
Most Asian share markets tumbled on Monday while the US dollar added to gains made after Federal Reserve Chair Janet Yellen indicated a US interest rate increase remains on the cards for this year.
MSCI’s broadest index of Asia-Pacific shares outside Japan extended losses to 1 per cent.
A report by SMC Global said: "Asian markets opened mostly on the back foot, but Japanese shares bucked the trend to climb in early trade, boosted by a relatively weaker yen. US stocks closed mixed on Friday, with utilities lagging, as investors digested remarks made by Federal Reserve Chair Janet Yellen and Vice Chairman Stanley Fischer. Consumer sentiment in the US unexpectedly saw a slight decline in the month of August, according to a report released by the University of Michigan.
The report said the final reading on the consumer sentiment index for August came in at 89.8 compared to the initial estimate of 90.4. With the downward revision, the consumer sentiment index for August is now below the final July reading of 90.0."
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