Last updated: May 29, 2023, 9:36 AM IST
Sensex Today: Benchmark indices Sensex and Nifty got off to a gap-up start on Monday after the US reached a tentative deal over the weekend to raise the debt ceiling, which is likely to avoid imminent bankruptcy.
The BSE Sensex zoomed 500 points to 63,000 and the NSE Nifty50 gained 137 points to 18,640.
M&M, HDFC Bank, IndusInd Bank, Ultratech Cement, HDFC, Tata Motors and Nestle led the Sensex wins, while SBI Life and Hindalco were the top Nifty winners.
On the other hand, ONGC, Sun Pharma and Power Grid fell 0.2-3 percent, and were the biggest frontline.
The broader markets gained in line with the benchmarks. The BSE MidCap and SmallCap indices rose to 0.5 percent.
Global signals
Asian markets rallied higher on the development this morning with Japan’s Nikkei leading, up 2 percent. Hang Seng, Strait Times, S&P/ASX 200 and Kospi rose 0.2-1 percent.
US stock futures rose 0.2-0.5 percent after a 1-2 percent rally in the money market on Friday.
Under the debt deal, which is now awaiting final approval from legislators in Congress, the $31.4 trillion debt ceiling will be suspended until January 2025 by 1 percent the following year.