Sensex, Nifty trade with gains; RIL shares up 1.5%, investors add Rs 1 lakh crore to their wealth

Sensex and Nifty started this week’s trading session with gains following positive global cues that saw benchmark indices gain over 1% each.

U.S. Stocks, American investors, Apple, Amazon, Microsoft, Facebook, Alphabet, shares, Charles Schwab

Sensex and Nifty started this week’s trading session with gains following positive global cues that saw benchmark indices gain over 1% each. S&P BSE Sensex opened 470 points higher and even jumped over 500 points during the initial minutes of trade, but later scaled down. The 50-stock Nifty crossed the 11,750 mark. Volatility slipped as low as 16 levels on Monday morning. Analysts believe that the current upward trend is likely to continue in the near term helped by liquidity in global markets. Financials were again leading the gains on the stock exchanges.

Investor wealth jumps: On Monday morning as Sensex and Nifty jumped higher, the total market capitalization of all BSE listed firms jumped to Rs 159 lakh crore. With this investors added Rs 1 lakh crore to their wealth. The market capitalization of BSE firms on Friday evening was at Rs 158 lakh crore. During the month of August, so far, investor wealth has jumped Rs 13 lakh crore.

Top gainers: IndusInd Bank was up 6% on the opening bell but soon saw some profit book bringing it down but still managed to hold on as the top gainer on BSE Sensex. ONGC and HDFC Bank were the other top gainers. On the BSE Midcap index, Future Retail was up 18% followed by Bank of India. Among BSE Smallcap constituents, Alembic Ltd and Geojit Financial Services were the top gainers.

Top drags: Bharti Airtel, Sun Pharma, and Bajaj Auto were the top drags on Sensex. Among BSE Midcap constituents HAL and Edelweiss were the top drags. Tribhovandas Bhimji Zaveri and Inox Leisure were down 6% on the BSE Smallcap index.

Sectoral watch: Among Nifty sectoral indices, Nifty Media, Metal, and Pharma were the only ones trading with losses. Nifty IT and Nifty Realty were up 1.2% each.

Future-RIL deal: Mukesh Ambani’s acquisition of part of Kishore Biyani’s business saw Reliance Industries jump 1.5% while Future Retail was up 18% and Bank of India, with one of the highest exposure to Future Group up 7% on Monday morning.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.