Mumbai, Dec 23
After witnessing a decline of about 5 per cent over the previous five consecutive trading sessions, the domestic benchmark indices closed in green on Monday amid strong global cues.
Heavy buying was seen in the realty and PSU bank sectors of Nifty.
At closing, Sensex settled at 78,540.17, up by 498.58 points or 0.64 per cent and Nifty ended at 23,753.45, up by 165.95 points, or 0.70 per cent.
Nifty Bank ended at 51,317.60 up by 558.40 points, or 1.10 per cent. The Nifty Midcap 100 index closed at 57,092.9 at the end of trading after gaining 186.15 points, or 0.33 per cent. While Nifty Smallcap 100 index closed at 18,687.80 after dropping 26.50 points or 0.14 per cent.
The Indian market demonstrated optimism following the recent sell-off.
According to experts, the lower-than-expected US personal consumption expenditure (PCE) print bolstered investor sentiment in interest rate-sensitive sectors. Broad-based buying was observed, with the metals sector notably benefiting from the anticipated increase in steel import taxes.
"Despite the positive market sentiment, the short-term outlook is expected to remain sideways due to a lack of new catalysts and the impact of the festive season and holidays," they added.v