Closing Bell: Sensex rises for 7th straight day, jumps 137 points (Photo Credit: file photo )
Market benchmark BSE Sensex rallied over 269 points to hit its intra-day peak of 40,434.83 in early trade on Monday and ended with 136.93 points higher while NSE Nifty also advanced to 50.70 points to 11,941.30, inching closed to the 12,000 mark. Top gainers in the Sensex pack included Vedanta, Tata Steel, ICICI Bank, Tata Motors, SBI, HCL Tech, Sun Pharma and Bharti Airtel, rising up to 3.20 per cent.
On the other hand, Yes Bank, Infosys, Hero MotoCorp, Bajaj Auto and HUL fell up to 4.80 per cent. In the previous session, the 30-share Sensex settled 35.98 points, or 0.09 per cent, higher at 40,165.03. The Nifty advanced 13.15 points, or 0.11 per cent, to close at 11,890.60. Foreign institutional investors (FIIs) purchased a Rs 533.37 crore in the capital market, on Friday, while domestic institutional investors sold shares worth Rs 136.50 crore, data available with stock exchange showed.
According to experts, better liquidity from FIIs and mutual funds will maintain a positive sentiment in the market given de-escalation in geopolitical risks and focus on upcoming reforms to revive growth. Globally, bourses in Shanghai, Hong Kong and Seoul were trading higher on optimism over the US-China trade deal after China’s commerce ministry on Saturday announced that top Chinese and US trade negotiators “reached consensus on principles”.
Top gainers in the Sensex pack included Infosys, Vedanta, Tata Steel, ONGC, and ICICI Bank, rising up to 3.05 per cent. HDFC too gained 2.48 per cent after the mortgage lender said its consolidated net profit jumped over 76.3 per cent to Rs 10,748.69 crore in the second quarter ended September 2019.
On the other hand, Maruti, Hero MotoCorp, IndusInd Bank, Tata Motor and PowerGrid lost up to 2.54 per cent. According to experts, better liquidity from foreign funds, de-escalation in geopolitical risks and focus on upcoming reforms to revive growth buoyed domestic investor sentiment.
Globally, bourses in Shanghai, Hong Kong and Seoul settled higher on optimism over the US-China trade deal after China’s commerce ministry on Saturday announced that top Chinese and US trade negotiators “reached consensus on principles”.
Exchanges in Europe were also trading on a positive note in their respective early deals. Meanwhile, the Indian rupee appreciated by 7 paise to 70.73 against the US dollar intra-day. Brent crude futures, the global oil benchmark, rose 0.28 per cent to USD 61.86 per barrel.
(With inputs from PTI)