Sensex at record close, Nifty at highest level since budget day pulled by bank shares
Summary
Indian benchmark indexes rebounded in the last hour of trading lifted by sustained buying in bank, FMCG, metal and financial shares. The Sensex ended at 36,719, rising by 222 points, or 0.61 percent, while the Nifty settled at 11084, gaining by 74.55 points, or 0.68 percent. Almost all sectoral indices gained except IT and to …
Indian benchmark indexes rebounded in the last hour of trading lifted by sustained buying in bank, FMCG, metal and financial shares. The Sensex ended at 36,719, rising by 222 points, or 0.61 percent, while the Nifty settled at 11084, gaining by 74.55 points, or 0.68 percent. Almost all sectoral indices gained except IT and to some extent auto.
(Market update as of 3.40 pm)
Indian markets rebounded in the last hour of trade, lifted by sustained buying in bank and metal shares, well-supported by FMCG stocks, particularly ITC and Hinudstan Unilever. The Sensex jumped over 226 points, or 0.62 percent, to 36,722.84, while the Nifty surged to 5-month high at 11,084.20, adding 74 points, or 0.67 percent. The Sensex later crossed to a new record high, while the Nifty also trades at highest level since budget day of February 1 this year.
(Market update as of 3.15 pm)
Indian markets trade range-bound in the afternoon trade on Monday. The Sensex added 121 points, or 0.33 percent, to rise to 36,618.27, while the Nifty was higher by 41 points, or 0.37 percent, to 11,050.
(Market update as of 2 pm)
Here’s how the markets fared around noon
The Indian market turned range-bound with a positive bias as sustained buying was seen in FMCG, telecom and NBFCs.
A bigger rally, however, has not been seen due to index heavyweight like HDFC Bank underperforming along with auto and IT shares.
The Sensex was trading at 36,580.90, gaining 85 points, while the Nifty was below 11,050 level, up by 33 points. The Sensex opened at 36,501 and has touched an intra-day high of 36,630 so far.
The indexes have largely been lifted by ITC, and well-supported by Hindustan Unilever, Asian Paints, Bharti Airtel, and Bajaj group finance stocks. However, the indexes were dragged due to midcap trading below potential.
HDFC Bank was trading in the red after Q1 results were below expectations on a certain parameters.
The stocks of the day mostly included those benefited from the GST council slashing rate on a list of 52 items ranging from paints to footwear to sanitary napkins. Shares of Havells, Bata, Liberty Shoes rallied higher.
Another gainer was UPL as the agro-chemical company announced a $4.3 billion deal with Arysta Lifesciences.
Among sectoral indices, FMGC, financial stocks were trading higher, while auto, metal, IT were trading lower.
Asian markets were trading mixed after the Bank of Japan offered to buy bonds at the first fixed-rate operation since February.
Japan’s Nikkei was down 1.27 percent, Hong Kong’s Hang Seng shed 0.09 percent in early trade today, while Shanghai Composite edged 0.37 per cent higher.
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