Sensex Rises Over 200 Points, Nifty Near 10,850
The domestic equity markets firmly traded in the green in late afternoon trade on Monday. At 1:19 pm, the 30-share Sensex pack was at 35,669.38, up 225.71 points or 0.64 per cent while the broader Nifty50 was at 10,846.05, at a gain of 78.40 points or 0.73 per cent. In the 50-share Nifty pack, 43 stocks traded in the green. The top gainers on the index were Bharti Airtel (up 3.03 per cent), UltraTech Cement (up 2.68 per cent), Grasim (up 2.66 per cent), Bajaj Finance (up 2.56 per cent), and Zee Entertainment Enterprises (up 1.94 per cent).
The banking pack was up as eight out of 12 stocks of the Nifty Bank index traded with gains. Nine out of 12 stocks of the Nifty PSU Bank index were in the green.
"(US) Federal Reserve interest rate hike decision and target interest rate on June 13 will be a key factor to determine near term trend in the market. Moving ahead Indian markets will depend on key economic data of industrial production on June 12, and wholesale price index on June 14. Monsoon and crude prices will also determine the Indian markets ahead," said Rahul Sharma, senior research analyst at Equity99.
The Met department has predicted "heavy to very heavy rain" at a few places in coastal Karnataka, Konkan, Goa, Assam, Meghalaya, Nagaland, Manipur, Mizoram, Tripura, Odisha and Kerala, today.
In the global markets, Asian stocks shook off initial modest losses and edged up ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week.
Stocks dipped after US President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group's efforts to show a united front. MSCI's broadest index of Asia-Pacific shares outside Japan slipped early but was last up 0.15 per cent, according to a report by news agency Reuters. Hong Kong's Hang Seng gained 0.3 per cent while the Shanghai Composite Index fell 0.5 per cent. The S&P 500 futures were down 0.1 per cent after dropping as much as 0.3 per cent.Â
On Friday, the Sensex had closed at 35,443.67 and the Nifty50 at 10,767.65 level.
(With Reuters inputs)
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