Sensex jumps up 593 points; banking, auto stocks surge

Mumbai,The Indian stock market surged on Monday with the BSE Sensex closing nearly 600 points higher.

Healthy buying in banking and auto stocks supported the indices. A positive trend in the global markets also boosted the investor sentiments in the Indian stock market.

The BSE Sensex closed at 37,981.63, higher by 592.97 points, or 1.59 per cent, from the previous close of 37,388.66.

It had opened at 37,756.25 and touched an intra-day high of 38,035.87 and a low of 37,544.05 points.

The Nifty50 on the National Stock Exchange closed at 11,227.55, higher by 177.30 points, or 1.6 per cent, from its previous close.

Manish Hathiramani, technical analyst with Deen Dayal Investments, said: “The markets kept the upward momentum on for the entire day. However, the level to watch out for is 11,300-11,350. We need to get past and close above that price zone.”