New Delhi: The Indian equity market recovered on Monday on the back of short-covering and positive investment data from China.
The BSE Sensex rose on Monday to its highest close in nearly 2-1/2 weeks as some blue chips recovered from recent steep falls, with ITC jumping after a UBS report said the company had raised prices of a key cigarette brand.
The benchmark BSE Sensex rose 1.43 percent, or 266.41 points, to end at 18,886.13, marking its fourth consecutive day of gains.
The broader Nifty rose 1.44 percent, or 78.95 points, to end at 5,550.75, closing above the psychologically important 5,500 level.
Among sectoral indices, Metals (3.16 per cent), FMCG (3.1 per cent) and Realty (3 per cent) were the top gainers on the BSE.
The market breadth was positive. Out of 2,400 stocks traded, 1,397 stocks advanced while 854 stocks declined and 149 remained unchanged on the BSE.