Market close higher in volatile trade as IT, oil shares recover

Mumbai (PTI): Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29% to settle at 59,500.41.

“India currently has around 35% of its towers fiberised and the rating agency expects that the capex required to fiberise the adequate number of towers to provide a sturdy network base would be close to `3 lakh crore.”

During the day, it rose by 313.34 points or 0.52% to 59,644.24.

The broader NSE Nifty gained 44.60 points or 0.25% to end at 17,648.95 as 29 of its stocks advanced.

From the Sensex pack, Bajaj Finance, UltraTech Cement, Bajaj Finserv, HCL Technologies, NTPC,

Asian Paints, Infosys, Wipro, Maruti, Mahindra & Mahindra and Tata Consultancy Services were among the major winners.

Power Grid, IndusInd Bank, Larsen & Toubro, Tata Steel, Hindustan Unilever, Tata Motors, State Bank of India and HDFC were among the laggards.

Rupee gains 9 paise to close at 81.50 against US dollar New Delhi (PTI): The rupee rose by 9 paise to close at 81.50 (provisional) against the US currency in a restricted trade on Monday, supported by a weak greenback in the overseas markets. At the interbank foreign exchange market, the local unit opened lower at 81.69 and touched a low of 81.72 against the US dollar. Later, it recovered ground and touched a high of 81.49 before settling at 81.50, shoing gains of nine paise over the previous close of 81.59 on Friday.