Bull run continues on bourses, IT stocks lead the rally

Bull run continues on bourses, IT stocks lead the rally

Equity benchmark indices closed over 1 per cent higher on Monday following handsome gains by IT stocks while Asian markets continued to flounder amid a spike in global coronavirus cases.

At the closing bell, the BSE SandP Sensex was up by 399 points or 1.08 per cent at 37,419 while the Nifty 50 edged higher by 121 points or 1.11 per cent at 11,022.

Except for Nifty pharma which slipped by 1.6 per cent, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT up by 2.6 per cent, financial service by 1.6 per cent, private bank by 1.5 per cent and auto by 0.5 per cent.

IT major Wipro and Infosys advanced by 4.4 per cent each while Tech Mahindra and HCL Technologies closed 4.3 per cent and 4.2 per cent higher respectively.