Sensex reverses three-day losing streak, closes 231 points up

Mumbai, March 28: The Indian equities markets benchmark Sensex closed 231 points higher on Monday, snapping a three-day losing streak, on the back of strong buying support in banking and financial stocks.

The equity indices witnessed volatile trading. The Sensex started the day on a positive note, but witnessed heavy selling pressure in the morning trade. The index slumped around 1 per cent in the morning trade. However, the markets witnessed good buying support in the afternoon session. The 30 stock S&P BSE Sensex closed 231.29 points or 0.40 per cent higher at 57,593.49 points against its previous day's close at 57,362.20 points. Also read | Covid 19: China begins most extensive lockdown in Shanghai to tackle outbreak Earlier, the Sensex started the day on a positive note at 57,472.72 points. However, it came under selling pressure soon after opening of the trade. The Sensex slumped to a low of 56,825.09 points in the intra-day. It touched a high of 57,638.34 points in the intra-day. The broader Nifty 50 of the National Stock Exchange closed 69.00 points or 0.4 per cent higher at 17,222 points against its previous session's close at 17,153 points. Banking and financial stocks, which witnessed selling pressure in the morning trade, led the rally towards the end of the trading session. Axis Bank surged 2.13 per cent to Rs 736.25. ICICI Bank rose 1.59 per cent to Rs 710.25. State Bank of India rose 1.44 per cent to Rs 497.40. IndusInd Bank rose 1.33 per cent to Rs 937.55. Bharti Airtel 3.40 per cent higher at Rs 733.35; ITC 1.54 per cent higher at Rs 257.20; Power Grid Corporation 1.19 per cent higher at Rs 212.10; Hindustan Unilever 1.01 per cent higher at Rs 1973.70 and Reliance Industries 0.96 per cent higher at Rs 2621.65 were among the major Sensex gainers. Also read | #WillAndChris controversy at Oscars explained; Know what happened and why -PTC News