Sensex, Nifty jump nearly 1% on gain in IT, banking shares; rally for third day on the trot

Sensex, Nifty rally for third day; IT, banks, capital goods shares gain. BSE Sensex jumps 594.91 points, Nifty 181.15 points. Gains in IT, private banks and capital goods amid global trends

Equity benchmarks Sensex and Nifty rallied for a third straight session on Monday, closing higher by nearly 1% on gains in IT, private banks and capital goods shares amid favourable trends in global markets.

The 30-share BSE Sensex jumped 594.91 points or 0.92% to settle at 64,958.69. During the day, it rallied 628.76 points or 0.97% to 64,992.54.

The broader Nifty of the National Stock Exchange climbed 181.15 points or 0.94% to 19,411.75.

Among the Sensex firms, Larsen & Toubro, Axis Bank, Tata Steel, Bajaj Finance, Power Grid, Asian Paints, Mahindra & Mahindra and Bajaj Finserv were the biggest gainers.

State Bank of India, Hindustan Unilever, Tata Motors and Titan were the laggards.

"Optimism continued as soft U.S. payroll data and expectations of moderation in monetary tightening by the Fed supported the sentiment. Since most of the headwinds are global in nature, investor sentiment has shifted to domestic-oriented businesses, where festive demand is healthy," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green.