Sensex closes up over 550 points, Nifty settles above 8,100-mark

After opening in the green on Monday, on the back of positive cues from the global markets, the benchmark BSE Sensex closed over 550 points, while the Nifty ended the trading session abve the crucial 8,100 mark.

Sensex closed the trading session up 564.60 points, or 2.15% higher at 26,785.55 on Monday.

The BSE Sensex opened up 300 points after hopes of an interest rate hike were slashed on the back of weaker-than-expected jobs data from the US. The US Federal Reserve has been hinting at moving towards a tighter policy regime for months now, but has been largely evasive about when it will hike rates. If it indeed hikes rates later this year, it will be a first in nearly a decade. Asian markets were trading higher, taking cues from positive US markets.

The NSE 50-share Nifty closed the trading session up 168.40 points or 2.12% at 8,119.30.

Among major gainers, HCC was up 18%, Jindal Steel by 15%, PFC by 11%, E Clerx by 9% and RECL by 7%.

Tata Motors hit an intraday high of nearly 8%, and later settled to close the day up 6.13% or Rs 18.20 higher at Rs 315.20 per share, on the back of a massive jump in Jaguar Land Rover's sales in the US market. JLR registered a 61% jump in sales in the US market in September this year, compared to the month-ago period, the company has said.

Brokers said continued buying by foreign funds and retail investors, tracking a firming trend in other Asian markets and US markets buoyed trading sentiments here.