Sensex today: ITC, Tata Steel top movers; index gains over 250 points

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Mumbai: The benchmark BSE Sensex on Monday spurted by 611 points - its biggest single-day gain since March 2016 - to finish at one-week high of 33,917.94 following a relief rally in global markets on growing prospects of the U.S. economy.

Most global markets have turned positive following United States data indicating abating inflationary pressure, which lowered the chances of an interest rate hike in the near future.

On the NSE, the wider Nifty50 edged higher by 165.70 points, or 1.62 per cent, to trade at 10,392.55 points.

However, later it declined to touch as the day's low of 33,468.16 before closing at 33,917.94, up by 610.55 points, or 1.83 percent. Firm trend in other Asian markets and higher opening in European bourses, following a good show by Wall Street on Friday, lifted investors' mood in domestic markets.

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Crude check: Brent crude, the benchmark for more than half the world's oil, gained 0.46 percent at $65.79 per barrel while the West Texas Intermediate crude advanced 0.35 percent at $62.26 a barrel, on Monday morning. Dow Jones surged 440 points to close at 25335.74 and S&P 500 rose 1.7 per cent to end the day at 2786.57.

Brokers said fresh buying by investors ahead of inflation data improved the market sentiment. Broader markets slightly underperformed with marginal losses of 0.3 per cent.

Market participants will keep a close eye on domestic macro-economic data releases.

Private bank stocks ICICI Bank (up 1.37 per cent), IDFC Bank (up 1.20 per cent) and IndusInd Bank (up 1.03 per cent) were gaining over 1 per cent in morning trade on Monday, keeping the sectoral index in the green.

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