AgenciesAmid positive global cues, domestic equity indices Sensex and Nifty ended Monday's session on a high note for the second consecutive day. While the Sensex ended 235 points higher at 61,185, Nifty managed to end the day above the 18,200 mark, led by gains in banks, auto and metal stocks.
was the top gainer in the Nifty50 pack, as it ended the day 8.4% higher. , and were among the other top gainers. On the other hand, investors dumped Divi's Lab shares after disappointing Q2 numbers. The pharma stock ended 8.7% lower at Rs 3,419 on NSE. Other top drags on Nifty included , , and .
Among major sectoral indices, Nifty PSU Bank turned out to be the biggest beneficiary of the day as it ended 4.5% higher. Oil and gas, realty, metal, bank and auto indices also rallied over a per cent each.
"The domestic market battled to find a clear direction but ended up making gains. Losses in pharmaceutical companies were offset by buying in PSU banks, auto, and metal equities. PSU banks took the lead in the rally as major sector players announced solid results," said Vinod Nair, Head of Research at .
He said a fall in oil prices as China disputed rumours of lifting Covid restrictions and stronger US jobs data showed that the US economy is expanding, helped the market. Global stocks advanced Monday as investors weighed uncertainties such as the US mid-term elections and China’s possible moves to ease coronavirus restrictions.
European Equities erased losses after a weak opening as traders took advantage of light positioning amid conflicting headlines fueling volatility. In Asian markets, Japan's Nikkei 225 ended 1.2% higher, and Hang Seng was up 2.7%.
Besides cues from global markets, the Nifty was also pushed by higher by the strength in the Indian rupee. The domestic currency strengthened 0.63% to 81.92 per dollar as improved risk sentiment weighed on the greenback. Brent crude oil futures were trading flat at $98.61 per barrel.
Technical analysts say Nifty could now face resistance from the 18,287-18,322 band after a break on Tuesday, while 18,090 could offer support in the near term.
was the top gainer in the Nifty50 pack, as it ended the day 8.4% higher. , and were among the other top gainers. On the other hand, investors dumped Divi's Lab shares after disappointing Q2 numbers. The pharma stock ended 8.7% lower at Rs 3,419 on NSE. Other top drags on Nifty included , , and .
Among major sectoral indices, Nifty PSU Bank turned out to be the biggest beneficiary of the day as it ended 4.5% higher. Oil and gas, realty, metal, bank and auto indices also rallied over a per cent each.
"The domestic market battled to find a clear direction but ended up making gains. Losses in pharmaceutical companies were offset by buying in PSU banks, auto, and metal equities. PSU banks took the lead in the rally as major sector players announced solid results," said Vinod Nair, Head of Research at .
He said a fall in oil prices as China disputed rumours of lifting Covid restrictions and stronger US jobs data showed that the US economy is expanding, helped the market. Global stocks advanced Monday as investors weighed uncertainties such as the US mid-term elections and China’s possible moves to ease coronavirus restrictions.
European Equities erased losses after a weak opening as traders took advantage of light positioning amid conflicting headlines fueling volatility. In Asian markets, Japan's Nikkei 225 ended 1.2% higher, and Hang Seng was up 2.7%.
Besides cues from global markets, the Nifty was also pushed by higher by the strength in the Indian rupee. The domestic currency strengthened 0.63% to 81.92 per dollar as improved risk sentiment weighed on the greenback. Brent crude oil futures were trading flat at $98.61 per barrel.
Technical analysts say Nifty could now face resistance from the 18,287-18,322 band after a break on Tuesday, while 18,090 could offer support in the near term.
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