Breaking News

Global cues lift equity indices; Nifty50 reclaims 10k-mark (Roundup)

Mumbai, Sep 11 (IANS) Key Indian equity indices on Monday surged — with the NSE Nifty50 reclaiming the psychologically important 10,000-mark — as positive global cues on the back of easing geo-political tensions, coupled with healthy buying in capital goods, banking and oil and gas stocks, lifted investors’ sentiments.

The wider 51-scrip Nifty50 of the National Stock Exchange closed at 10,006.05 points — up 71.25 points or 0.72 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE closed at 31,882.16 points — up 194.64 points, or 0.61 per cent.

The BSE market breadth was bullish — with 1,408 advances and 1,222 declines.

“Markets rallied strongly on Monday to close with healthy gains. The Nifty in the process broke out of its recent trading range and also closed above the psychologically important 10,000-mark,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Major Asian markets have ended on a positive note, barring the Taiwan and Straits indices. European indices like FTSE 100, DAX and CAC 40 traded higher,” he added.

In terms of broader market indices, the S&P BSE mid-cap index rose by 0.71 per cent and the small-cap index by 0.77 per cent.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Domestic market inched up supported by positive impetus in global market due to weakened hurricane Irma in US and sign of melting geopolitical tensions.”

“Investors are also awaiting the outcome of CPI (Consumer Price Index) Inflation, IIP (Index of Industrial Production) data tomorrow (Tuesday) for any turnaround after the disruption from Goods and Services Tax,” said Nair.

On the currency front, the Indian rupee weakened by 14-15 paise to 63.93-94 against the US dollar from its previous close at 63.79.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 392.52 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 877.37 crore.

“Indian shares rose on Monday as auto makers such as Maruti Suzuki gained after an increase in the GST was less wide-ranging than expected, with sentiment also supported by higher Asian markets,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

“Top gainers on NSE were IndusInd Bank, Tata Power and Gail, while on the losing side were Mahindra and Mahindra (M&M), Indiabulls Housing Finance and Sun Pharma,” Desai told IANS.

Sector-wise, the S&P BSE capital goods index surged by 459.53 points, banking index by 313.25 points and oil and gas index by 150.49 points.

On the other hand, the S&P BSE IT index was down 13.84 points, Teck index by 7.42 points, and healthcare index by 3.73 points.

Major Sensex gainers on Monday were: Larsen and Toubro, up 3.80 per cent at Rs 1,216.90; Asian Paints, up 2.84 per cent at Rs 1,236.85; Tata Motors (DVR), up 2.55 per cent at Rs 214.90; Maruti Suzuki, up 2.41 per cent at Rs 8,164.90; and HDFC Bank, up 1.95 per cent at Rs 1,822.90.

Major Sensex losers were: M&M, down 1.10 per cent at Rs 1,280.50; Infosys, down 0.66 per cent at Rs 878.55; Sun Pharma, down 0.51 per cent at Rs 468.65; State Bank of India, down 0.40 per cent at Rs 270.85; and ICICI Bank, down 0.34 per cent at Rs 291.

Post Source: Ians feed

About Admin


Comments are closed.

Scroll To Top