The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent higher on Monday led by gains in the share prices of information technology (IT), banks and financial companies.
The S&P BSE Sensex rose 398.85 points (1.08 per cent) to end at 37,418.99, while the broader Nifty 50 climbed 120.50 points (1.11 per cent) to settle above 11,000-mark at 11,022.20. Both the indices had opened over 0.5 per cent higher earlier in the day and inched up as the day progressed. The Sensex hit an intraday high of 37,478.87, while Nifty touched 11,037.90.
On the Sensex, the gains on Monday were led by Bajaj Finance, Bajaj Finserv, HCL Technologies, Tech Mahindra, Infosys, and HDFC Bank. On the other hand, Sun Pharmaceutical Industries, NTPC, Maruti Suzuki India, Kotak Mahindra Bank, ITC and Larsen & Toubro (L&T) were the top losers of the day. (see heatmap below)
Among the sectoral indices, the Nifty IT index was the best performer of the day rising 2.60 per cent led by Info Edge (India), Wipro and Infy. This apart, the key Bank Nifty too climbed 1.62 per cent led by The Federal Bank, RBL Bank and HDFC Bank. The Nifty Financial Services index too rose 1.63 per cent led by Mahindra & Mahindra Financial Services, Cholamandalam Investment and Finance Company and Bajaj Finance.
Here’s how the sectoral indices performed:
In the broader market, S&P BSE MidCap index ended at 13,654.26, up 123.51 points (0.91 per cent, while the S&P BSE SmallCap settled at 12,915.27, up 132.74 points (1.04 per cent).
The rupee appreciated by 11 paise to settle at 74.91 (provisional) against the US dollar on Monday, tracking positive domestic equities and weak American currency.
At the interbank forex market, the rupee opened at 74.92 against the greenback, and touched a high of 74.89 and low of 75.03 during the session. It finally closed for the day at 74.91 against the American currency, up 11 paise over its previous close.
The domestic currency had settled at 75.02 against the US dollar on Friday.
The euro and euro zone bond markets held out hope European Union leaders would strike a deal on a recovery fund for the bloc’s pandemic-ravaged economy on Monday, but the region’s stock markets took a cautious turn lower as talks paused.
The single currency hit its highest levels against the dollar since March 9, at $1.1467 after reports of progress following three days of negotiations towards the proposed 750 billion-euro fund.
Bond markets also cheered the progress, with the risk premium investors pay for holding Italian government debt over Germany’s – the bloc’s benchmark – falling to 162 basis points, the lowest level since March 27.
Stock markets kept the optimism in check, however. The pan-European STOXX 600 index fell 0.6 per cent in early deals.
Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.14 per cent, reversing loses earlier in the day.
Chinese markets rose more than 2 per cent after regulators raised the equity investment cap for insurers and encouraged mergers and acquisitions among brokerages and mutual fund houses.
Australia’s S&P/ASX 200 index dropped 0.5 per cent after authorities warned that a surge in COVID-19 cases in the country’s second most populous state could take weeks to tame.
More than 14 million people have been infected by the novel coronavirus globally and nearly 602,000 have died, according to a Reuters tally.
South Korea’s KOSPI pared gains to fall 0.1 per cent. Japan’s Nikkei was also down 0.1 per cent after data showed the country’s exports suffered a double-digit decline for the fourth month in a row in June.
– rupee input from PTI, global market from Reuters
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