Equity gauges close higher, PSB and realty stocks surge

Market bulls reversed morning losses as traders engaged in broad-based buying on Monday with frontline equity indices closing 0.4 per cent gap up.

The BSE S&P Sensex ended 230 points or 0.44 per cent higher at 52,574 while the Nifty 50 edged up by 63 points or 0.4 per cent to 15,747.

Except for Nifty FMCG and auto, all sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank higher by 4.1 per cent, realty by 2.3 per cent, metal by 1.1 per cent and pharma by 0.5 per cent.

Among stocks, Adani Ports rose by 5.1 per cent to Rs 730 per share while Adani Enterprises moved up by 3.5 per cent to Rs 1,540.70.

NTPC advanced by 3.9 per cent, Titan by 1.8 per cent, State Bank of India by 1.5 per cent, DLF by 2.6 per cent Godrej Properties by 2.4 per cent.

However, UPL dipped by 4.3 per cent. Wipro, Tata Motors, Maruti Suzuki, Hindalco and Tata Consultancy Services closed in the red.

Meanwhile, Asian stocks dropped as investors mulled the implications of a surprise hawkish shift last week by the US Federal Reserve.

Japan's Nikkei led declines with a 3.3 per cent drop while Hong Kong's Seng Index fell 1.08 per cent. South Korea's Kospi slid by 0.83 per cent.

( With inputs from ANI )