Sensex closes over 280 points higher on first trading day of FY19, auto stocks rally

At close, the BSE Sensex was at 33,255.36, 286.68 points or 0.87% higher, while the broader NSE Nifty 50 closed above the 10,200 mark, up 98.10 points or 0.97%.

Domestic equity markets started the new fiscal on a positive note on Monday, with the flagship BSE Sensex rising about 287 points to end above the key 33,000-level. Index heavyweights such as RIL, Tata Motors and Maruti led the rally.

The 30-share BSE Sensex had lost 205.71 points in the last session of FY18 on Wednesday.(Dhiraj Singh/Bloomberg)

Similarly, the broader NSE Nifty too also managed to close above the 10,200-mark.

At close, the BSE Sensex was at 33,255.36, 286.68 points or 0.87% higher, while the broader NSE Nifty 50 closed above the 10,200 mark, up 98.10 points or 0.97%.

The bourses reopenedon Monday after a long weekend following holidays for Mahavir Jayanti and Good Friday on last Thursday and Friday, respectively.

A positive start in the April derivative series boosted investor sentiments as they indulged in creating fresh positions, brokers said. Sentiments also got a boost after several auto makers posted better-than-expected sales data for March month, they said.

However, other Asian markets turned weak after initial firmness due to profit-taking in late trade and any absence of cues form European markets that were closed for Easter.

The BSE Sensex, after a gap-up, opening to regain the 33,000-mark advanced to hit a high of 33,289.34 before terminating at 33,255.36, showing a hefty gain of 286.68 points, or 0.87%. The gauge had lost 205.71 points on the last session of FY18 on Wednesday.

The NSE 50-share Nifty also spurted by 98.10 points, or 0.97%, to end at 10,211.80 after moving in a range of 10,220.10 and 10,127.75.