NEW DELHI: Equity indices rebounded on Monday as investors cheered the domestic economy returning to growth in the October-December period after two quarters of contraction.
Government data on Friday showed that the country's gross domestic product (GDP) grew 0.4 per cent in October to December, compared with a revised contraction of 7.3 per cent in July to September.
The benchmark
BSE sensex jumped 750 points or 1.53 per cent to close at 49,850; while the broader
NSE Nifty
232 points or 1.60 per cent to settle at 14,762.
Top gainers in the BSE pack included PowerGrid, ONGC, UltraTech Cements, Asian Paints, Kotak Mahindra Bank and Titan with their share up as much as 5.94 per cent.
On the NSE platform, except for Nifty PSU Bank, all other sub-indices finished in green with Nifty Media and Nifty Auto leading the pack by rising as much as 4.34 per cent.
"The GDP data was positive and this is building expectations that post-Covid recovery would be fast, the expansion of immunisation drive is also helping alleviate any concerns," KK Mittal, an investment adviser at Venus India, told news agency Reuters.
Other Asian shares also traded higher amid some stability in bond markets after last week's turmoil. Further, progress in the US stimulus package also lent some support to investor sentiments globally.
Meanwhile, foreign investors sold equities worth Rs 8,295.17 crore on a net basis on Friday, as per exchange data.
(With inputs from agencies)