At the index level, the S&P BSE Sensex rose 416 points or 1.33 per cent to settle at 31,743. During the day, the index hit a high and low of 32,103.70 and 31,651.58, repectively. On the NSE, the frontline Nifty50 index ended at 9,282, up 128 points or 1.40 per cent. India VIX declined 3 per cent to 37.93 levels.
In the broader market, the S&P BSE MidCap index settled at 11,630, up 1.44 per cent and the S&P BSE SmallCap index climbed 1.37 per cent to 10,780 levels.
On the sectoral front, all the indices on the NSE ended in the green with Nifty Private Bank advancing the most.
Shares of Mindtree rallied 13 per cent to Rs 881.40 on the BSE after the company posted 4.3 per cent quarter on quarter (QoQ) revenue growth at Rs 2,050 crore for the quarter ended March 2020 (Q4FY20). Besides, it posted a net profit of Rs 206.2 crore, a rise of 4.7 per cent sequentially. READ MORE
ICICI Prudential Life Insurance Company (ICICI Pru) ended over 12 per cent to Rs 377.55 apiece on the BSE even as its net profit declined 31 per cent for the March quarter of FY20 (Q4FY20) to Rs 179 crore impacted by weak business trends due to the lockdown in March. the company had net profit of Rs 261 crore in the year-ago period.
Shares of Pfizer zoomed over 11 per cent to Rs 4891.25 on the BSE after its board declared a special dividend of Rs 320 per equity share of Rs 10 each i.e. 3200 per cent for the financial year ended March 31, 2020.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, but the recent weak run in the global oil price showed no signs of ending.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.8 per cent, taking back a chunk of last week's 2.6 per cent decline. Japan's Nikkei gained 2.6 per cent, and Chinese blue chips 1 per cent.
After a soft start, E-Mini futures for the S&P 500 climbed 0.85 per cent, while EUROSTOXX 50 futures added 2.6 per cent and FTSE futures 1.35 per cent.
In commodities, oil prices fell on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic.
US oil futures led losses, falling by more than $2 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.
US West Texas Intermediate June futures fell $2.42, or 14.3%, to $14.52 a barrel at the time of writing of this report. Brent crude was down 90 cents, or 4.2 per cent, at $20.54 a barrel. The June Brent contract expires on Thursday.
(With inputs from Reuters)