Select stocks outperformed the BSE Sensex on Monday that marked the fourth straight day of gains for Indian stock markets. The rally was attributed to gains in Asian equities and gains in crude oil prices on likely agreement on capping output.
The 30-scrip Sensex closed 35 points higher at 28,634, while the NSE Nifty gained 29 points to close at 8,808. The day also saw the commencement of ICICI Prudential Life Insurance's initial public offering (IPO). The largest private sector life insurer received bids for about 16 per cent of the public issue. The company got bids for 2.09 crore shares against 13.23 crore shares on offer, according to data available with stock exchanges.
Top Sensex gainers included TCS, ICICI Bank, Adani Ports and Coal India.
Raymond, GVK Power, Ceat, MRF and IL&FS Transport gained in the range of 6 to 12.6 per cent on the BSE.
Raymond closed 9.53 per cent higher at Rs 522.20, GVK Power gained 6.76 per cent to end at Rs 6.95, MRF was up 6.35 per cent at Rs 43,073, while Ceat ended 6.04 per cent higher at Rs 1,128.30.
Among sectoral indices, the BSE Bankex gained 0.33 per cent, BSE Auto 0.17 per cent and BSE Realty 1.60 per cent, led by Indiabulls Real Estate that flared up 6.75 per cent to close at Rs 92.55.
The Indian rupee closed at 66.95 to the US dollar.
Foreign institutional investors (FIIs) were net buyers of Indian equities worth Rs 205 crore on Monday, according to provisional data released by the National Stock Exchange.