Sensex jumps 398 points; RIL, Maruti Suzuki, M&M surge

Mumbai (Maharashtra) [India], August 1 : Extending the rally to the fourth consecutive trading session, the Indian stock market's key indices started the new month on a positive note with benchmark Sensex trading 398 points higher in the afternoon session on Monday led by strong buying support in Reliance Industries, Maruti Suzuki and Mahindra & Mahindra.
The 30 stock S&P BSE Sensex was trading at 57,968.27 points at 12.58 pm, which is 398.02 points or 0.69 per cent higher from its previous session's close at 57,570.25 points.
This is the fourth straight session of the rally in the Indian equities markets. The Sensex had gained 712.46 points or 1.25 per cent on Friday, the previous trading day.
The broader Nifty 50 of the National Stock Exchange was trading 138.70 points or 0.81 per cent higher at 17,296.95 points against its previous session's close at 17,158.25 points.
The Nifty had gained 228.65 points or 1.35 per cent on Friday.
The index heavyweight Reliance Industries Limited (RIL) surged 2.20 per cent to Rs 2564.
There was strong buying support in auto stocks. Mahindra & Mahindra soared 6.41 per cent to Rs 1239.45. Maruti Suzuki surged 2.49 per cent to Rs 8991.15.
Power Grid Corporation, Bharti Airtel, UltraTech Cement, ITC, Kotak Bank, NTPC and State Bank of India were among the major Sensex gainers.
FMCG stocks were under selling pressure. Hindustan Unilever slipped 1.81 per cent to Rs 2587.75. Nestle India was down 0.79 per cent at Rs 19200. Sun Pharma slumped 2.82 per cent to Rs 916.90. IndusInd Bank, HDFC, L&T, TCS and Titan were among the major Sensex losers.