Indian Stock Market Sensex ends 240 pts higher, Nifty closes below 18,600 ।। M&M, Axis Bank shine *

 

Share Market Close: Benchmark indices ended in the green with Sensex closing just below 62,800 and Nifty gaining 60 pts. Auto and Pvt Bank shine; IT, PSU Bank and FMCG shed. M&M, Axis Bank and Tata Motors led the rally, while Asian Paints, TechM, and Divi's Lab dragged. 

Indices ended in the green on Monday as they jump around 0.5% on the back of a strong Auto sector and amidst positive global cues. RBI MPC's monetary policy meeting outcome scheduled on June 8 will be the key factor that will drive the market sentiments this week. Analysts expect RBI to keep the repo rate unchanged. 

Indian shares ended higher on Monday, powered by sustained gains in auto stocks and tracking the mood in the broader Asian market, as mixed U.S. jobs data bolstered bets that the Federal Reserve may skip an interest rate hike later this month.

The blue-chip Nifty 50 index closed with a gain of 60 points at 18,593, while the benchmark S&P BSE Sensex advanced 240 points to close at 62,787. Elevn of the 15 broad-based Nifty sectoral indices ended in the green on Monday.

M&M led the Auto index surge as it jumped 4%. Axis Bank and Tata Motors also shined as they gained more than 2% each. Divi's Labs, TechM, and Asian Paints were prominent laggards in today's session.

Most sectoral indices ended in the green with Auto jumping more than 1%. Pvt Bank, Media and Consumer Durables also ended in the green with decent jumps. PSU Bank, FMCG and IT ended in the red with minor drops.