[ad_1]
Equity market ended higher for the fourth session on Monday, tracking strong global cues and inflows of fresh foreign funds.
Sensex climbed 545.25 points to end at 58,115.50. During the day, the index jumped 600.42 points or 1 per cent to 58,170.67. Nifty gained 181.80 points or 1.06 per cent to 17,340.05.
Mahindra & Mahindra, NTPC, Reliance Industries, Maruti Suzuki India, Bharti Airtel, Kotak Mahindra Bank, Power Grid and UltraTech Cement were the top Sensex gainers, rising up to 6.15 per cent.
Sun Pharma, Hindustan Unilever, IndusInd Bank and Nestle were among the top Sensex losers, falling up to 2.65 per cent.
Of 30 Sensex shares, 24 ended higher.
Mid-cap and small-cap indices rose 362 points and 399 points, respectively.
Share Market update: Sensex rises 545 pts, Nifty above 17,300; M&M, PowerGrid top gainers
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, “Strong global cues and optimistic vehicle sales numbers from select frontline automobile companies fueled another round of rally in domestic equities. The overhang of the US policy rate decision is now behind us and the focus is now on the RBI policy meeting later this week where traders expect the rate hike could be on expected lines. Moreover, the return of FII inflows into the local equity markets has also brought back some amount of cheer amongst the investors.”
Auto, banking, capital goods and consumer durables stocks were the top sectoral gainers with their BSE indices zooming 927 points, 443 points, 453 points and 456 pts, respectively.
All 19 BSE sectoral indices ended in green. Market breadth was positive with 2,308 stocks ending higher against 1,157 stocks falling on BSE. 191 shares were unchanged.
“FPIs turning net buyers is the major factor driving the uptick in the domestic market. Record low unemployment rate in the Eurozone and fall in crude oil prices, increased optimism globally. Oil prices took a hit as the deteriorating demand outlook outweighed cues of ongoing supply tightness. Auto stocks were in focus post the release of positive auto sales numbers,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Foreign institutional investors (FIIs) turned net buyers on Friday, buying shares worth Rs 1,046.32 crore, as per NSE data. Foreign investors turned net buyers and invested nearly Rs 5,000 crore in Indian equities in July.
Market cap of BSE-listed firms rose to Rs 270.29 lakh crore.
Previous session
Benchmark indices ended higher for the third straight session on Friday led by heavy buying in metal, consumer durables and IT stocks. Sensex jumped 712 points to end at 57,570 and Nifty advanced 228 points to 17,158. Tata Steel, Sun Pharma, Bajaj Finserv, and IndusInd Bank were the top Sensex gainers, rising up to 7.27 per cent.
Dr Reddy’s, Kotak Bank, SBI, ITC and Axis Bank were the only Sensex losers, falling up to 1.19 per cent.
Global markets
In Asia, markets in Seoul, Shanghai, Tokyo and Hong Kong ended higher. Bourses in Europe were trading in the green during mid-session deals. The US markets had ended on a higher note on Friday.
Meanwhile, international oil benchmark Brent crude declined 1.35 per cent to $102.6 per barrel.
[ad_2]
Source link
