Sensex Jumps Over 300 Points, Nifty Crosses 11,900: 10 Things To Know

Image result for Sensex Jumps Over 300 Points, Nifty Crosses 11,900: 10 Things To KnowDomestic stock markets registered sharp gains on Monday shrugging off early losses, despite weakness in Asian peers amid US-China trade concerns. The S&P BSE Sensex rose as much as 306.11 points to 39,740.83, and the NSE Nifty moved to 11,940.05, up 95.95 points from the previous close. Advances in financials, metal and energy stocks pushed the markets higher however the upside was limited by weakness in pharma counters. Analysts expect some volatility in the markets ahead of the release of GDP data and the expiry of monthly derivatives contracts this week.
Here are 10 things to know:
  1. At 11:46 am, the Sensex traded 290.91 points – or 0.74 per cent – higher at 39,725.63, while the Nifty was up 90.00 points – or 0.76 per cent – at 11,934.10.
  2. Top percentage gainers on the 50-scrip index were Grasim Industries, NTPC, Yes Bank, Tata Steel and Larsen & Toubro, trading between 2.61 per cent and 4.98 per cent higher.
  3. HDFC Bank, HDFC and Larsen & Toubro contributed the most to the advances on Sensex.
  4. The Nifty Bank index rose as much as 0.99 per cent. Besides Yes Bank, prominent gainers on the sectoral index included Punjab National Bank, Bank of Baroda and Axis Bank, which rose between 1.35 per cent and 3.4 per cent. Heavyweight State Bank of India (SBI) rose as much as 1.79 per cent.
  5. Market breadth favoured the upside in the markets, with 1,286 stocks trading in the positive zone and 413 struggling with losses on the National Stock Exchange (NSE). On the BSE, 1,642 stocks advanced at the time, while 619 declined.
  6. Midcap and smallcap stocks outperformed the benchmark indexes, with the S&P BSE Midcap and Smallcap indexes rising as much as 1 per cent and 1.62 per cent respectively.
  7. On the other hand, the Nifty Pharma index dropped as much as 1.34 per cent, dragged lower by losses in Lupin and Dr Reddy’s Laboratories.
  8. The rupee appreciated by as much as 18 paise against the dollar to 69.35 in morning.
  9. Equities in other Asian markets hovered near four-month lows on Monday amid concerns about US-China tensions, with MSCI’s broadest index of Asia-Pacific shares outside Japan virtually flat, a sliver above from a four-month low touched on Friday, while market holidays in the US and UK dented trading volumes. Japan’s Nikkei average was up 0.3 per cent by its midday break.
  10. The Sensex and Nifty had ended 1.61 per cent and 1.6 per cent higher on Friday, after the Bharatiya Janata Party-led National Democratic Aliance (NDA) won an overwhelming majority in the recently concluded general elections.


Author: Lili