Indian indices ended near record close on Monday, boosted by metals and financials, as investors hoped for a strong corporate earnings season. The sentiment was also lifted on the back of more availability of COVID-19 vaccine doses.

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The Sensex ended 395 points higher at 52,880 while the Nifty rose 112 points to settle at 15,834.

The broader markets were also higher with the midcap and smallcap indices up 0.5 percent and 0.8 percent, respectively.

"Domestic indices witnessed a gap-up opening and maintained the levels despite mixed sentiments seen in global equities. In line with contraction in manufacturing PMI, India’s Service PMI for June fell to 41.2 against 46.4 in May, having no negative impression on the market. A strong US job data signalled that the economy is recovering at a steady pace which eased concerns over an earlier-than-expected interest rate hike by the Fed. The overall optimism boosted appetite for most sectors barring IT and Pharma, while small and mid-cap stocks continued their outperformance," said Vinod Nair, Head Of Research at Geojit Financial Services.

On the Nifty50 index, Hindalco, ONGC, SBI, Tata Steel and Coal India were the top gainers while Tech Mahindra, HDFC Life, Dr Reddy's BPCL and Britannia led the losses.

Among sectors, the Nifty Bank, Nifty Fin Services and Nifty Metal rose over a percent each while Nifty Auto, Nifty FMCG and Nifty Energy were up half a percent. However, Nifty IT ended in the red ahead of TCS' June quarter earnings on Wednesday.

Shares of Panacea Biotec soared over 5 percent after the biotechnology firm got the Indian drug regulator's nod to manufacture the Russian Sputnik V vaccine.

Agrochemical firm India Pesticides jumped 15.6 percent in its market debut.

(Edited by : Pranati Deva)

First Published:Jul 5, 2021 3:33 PM IST