Sensex Rallies 364 Points, Nifty Ends Above 15,850; Realty Shares Outperform

All the 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Realty index's nearly 5 per cent gain.

The Indian equity benchmarks closed higher on Monday paced by strong buying interest in index heavyweights Reliance Industries, Infosys, Tata Consultancy Services, HDFC, Axis Bank and Titan. The Sensex rose as much as 400 points and Nifty 50 index touched an intraday high of 15,892.50. Market sentiment turned bullish after government data showed that Goods and Services Tax (GST) collections for July 2021 came in at Rs 1.16 lakh crore, 33 per cent more than the corresponding period of last year. Strong trend in other global markets also added to the bullish sentiment. The Sensex ended 364 points higher at 52,951 and Nifty 50 index climbed 122 points to close at 15,885. "Sentiments got the boost as GST collection recovered to a three-month high in July, exceeding Rs 1.1 trillion, as economic activity resumed. 15,950 is an important level in the market if the market sustains above 15,950, we can expect the market to trade till the level of 16,150-16,200. Technical indicators also support positivity in the market," Gaurav Garg, head of research, CapitalVia Global Research said. European markets were trading higher with England's FTSE 100 index up 1 per cent, France's CAC40 index advancing 0.9 per cent and Germany's DAX climbing 0.3 per cent.