Sensex jumps, Rupee appreciates by 5 paise, steep fall in oil prices,

Indian Stock market benchmark indices ended sharply higher on Monday, with the Sensex rallying 1,233 points and the Nifty climbing to 23,440.80, driven by a steep rally in bellwether Reliance Industries post earnings announcement and cooling crude oil prices. Foreign fund inflows and positive domestic macro indicators also added to the optimism.
Rallying for the third day, the 30-share BSE Sensex jumped 1,233.25 points, or 1.66 per cent, to settle at the day’s high of 75,692.78. The 50-share NSE Nifty surged 387.70 points, or 1.68 per cent, to end at the day’s high of 23,440.80.
From the 30 Sensex firms, Reliance Industries surged 11.64 per cent after the firm posted a record quarterly profit of Rs 29,550 crore for July-September, up 33.8 per cent from the year-ago period, as its oil-to-chemicals business rode a surge in global fuel margins and growth in its telecom arm offset the relatively subdued performance in retail.
In the forex market, the rupee appreciated by five paise to close at 94.90 rupees  against the US dollar. The dollar index, which indicates US dollar’s strength against a basket of six other leading currencies, was trading at 101.68 in intra-day trade.
Tata Steel, UltraTech Cement, State Bank of India, NTPC and Maruti Suzuki were also among the gainers. Infosys, Kotak Mahindra Bank, ICICI Bank and Sun Pharma were among the laggards. Brent crude, the global oil benchmark, tanked 4.46 per cent to USD 108.7 per barrel.

(Business Correspondent)