Market hits 3-week high; Sensex jumps 300 pts, Nifty above 10,550
, ETMarkets.com|
Feb 26, 2018, 04.40 PM IST
NEW DELHI: The domestic equity indices gained for a second straight session to hit three-week high on Monday on upbeat global cues and bargain hunting in select index majors.
Domestic investors remained positive ahead of release of key macro numbers such as GDP numbers for December quarter as well as fiscal deficit and manufacturing data.
Nifty50 closed 92 points, or 0.87 per cent, up at 10,583, while the 30-share Sensex settled 304 points, or 0.89 per cent, up at 34,446 on Monday.
Both the indices hit their respective highest levels since February 5, 2018.
Among the 50 stocks in Nifty50 index, 38 closed the day in the green, while 12 stocks declined.
Broader BSE Midcap and smallcap indices also closed higher, however, a little behind the BSE benchmark Sensex. The midcap index closed 0.74 per cent up at 16,685, while the smallcap index ended 0.88 per cent up at 18,154.
"It's a holiday shortened week and we've some important data such as GDP, auto and cement monthly sales figure lined up ahead. Favorable global cues have also played crucial part in this bounce so far. Going ahead, traders should closely watch local developments along with cues from world markets. Nifty should decisively hold above 10,600 for further recovery else profit taking will resume,” said Jayant Manglik, President, Religare Broking.
The pack of gainers included Maruti Suzuki (4 per cent), followed by Tata Motors, Larsen & Toubro and IndusInd Bank.
Among the losers, Sun Pharma, with a loss of over 2 per cent, stood at the top. It was followed by TCS, Tech Mahindra, Infosys and ITC.
Among the sectors on the NSE, Nifty Realty remained the top gainer, climbing over 3 per cent.
Barring Nifty PSU Bank, pharma, IT and FMCG, all sectoral indices settled in the green, gaining over 1 per cent.
Britannia Industries, Hindustan Zinc, IDBI Bank, InterGlobe Aviation, JSW Steel and Oberoi Realty were among the stocks that hit fresh 52-week highs.
On the other hand, Dhanlaxmi Bank, Gitanjali Gems, Oriental Bank of Commerce and Punjab National Bank were among the stocks that hit fresh 52-week lows on Monday.
Global stocks moved up on Monday, while majority of Asian markets closed with gains of over 1 per cent.
Domestic investors remained positive ahead of release of key macro numbers such as GDP numbers for December quarter as well as fiscal deficit and manufacturing data.
Nifty50 closed 92 points, or 0.87 per cent, up at 10,583, while the 30-share Sensex settled 304 points, or 0.89 per cent, up at 34,446 on Monday.
Both the indices hit their respective highest levels since February 5, 2018.
Among the 50 stocks in Nifty50 index, 38 closed the day in the green, while 12 stocks declined.
Broader BSE Midcap and smallcap indices also closed higher, however, a little behind the BSE benchmark Sensex. The midcap index closed 0.74 per cent up at 16,685, while the smallcap index ended 0.88 per cent up at 18,154.
"It's a holiday shortened week and we've some important data such as GDP, auto and cement monthly sales figure lined up ahead. Favorable global cues have also played crucial part in this bounce so far. Going ahead, traders should closely watch local developments along with cues from world markets. Nifty should decisively hold above 10,600 for further recovery else profit taking will resume,” said Jayant Manglik, President, Religare Broking.
The pack of gainers included Maruti Suzuki (4 per cent), followed by Tata Motors, Larsen & Toubro and IndusInd Bank.
Among the losers, Sun Pharma, with a loss of over 2 per cent, stood at the top. It was followed by TCS, Tech Mahindra, Infosys and ITC.
Among the sectors on the NSE, Nifty Realty remained the top gainer, climbing over 3 per cent.
Barring Nifty PSU Bank, pharma, IT and FMCG, all sectoral indices settled in the green, gaining over 1 per cent.
Britannia Industries, Hindustan Zinc, IDBI Bank, InterGlobe Aviation, JSW Steel and Oberoi Realty were among the stocks that hit fresh 52-week highs.
On the other hand, Dhanlaxmi Bank, Gitanjali Gems, Oriental Bank of Commerce and Punjab National Bank were among the stocks that hit fresh 52-week lows on Monday.
Global stocks moved up on Monday, while majority of Asian markets closed with gains of over 1 per cent.
