Mumbai, Aug 25
The Indian benchmark indices opened the week with gains on Monday, as IT stocks led the rally after a potential rate cut in the US boosted investors' sentiment.
The BSE Sensex gained 251.41 points, or 0.31 per cent to touch 81,558. The Nifty 50 inched up 71 points, or 0.29 per cent up to 24,941.
Sector-wise, the Nifty IT index led the gains with 1.77 per cent surge followed by Nifty Metal index up 0.88 per cent. The majority of other indices showed moderate gains.
In the Nifty pack, Infosys, Tech Mahindra, TCS, Bajaj Finance, Hindalco and NTPC were the major gainers. ICICI Bank, Apollo Hospital, Jio Financial and Maruti Suzuki were the major laggards.
According to analysts, technically, Nifty is hovering near its short-term support at 24,840, which aligns with the 50-day EMA.