Sensex Closes At Highest Level In 5 Months; Vedanta, Yes Bank Lead Gains
Domestic stock markets started the week on a positive note. The S&P BSE Sensex surged 276.86 points, or 0.78 per cent, on Monday to end at 35,934.72, a five-month closing high. The NSE's Nifty50 index rose 80.25 points or 0.74 per cent to settle at 10,852.90. Healthy buying was witnessed in the banking, auto and metal stocks. Both benchmark equity indices tracked gains in Asian peers after favourable US jobs data boosted risk appetite. Asian shares rose tracking gains on Wall Street after the release of strong jobs data for June, which muffled the impact of an escalating US-China trade dispute.
Major gainers in the 30-share Sensex pack were Vedanta, Yes Bank, Asian Paints, Sun Pharma, Reliance and Power Grid, rising between 1.75Â per cent to 3.08 per cent. Top laggards on the BSE index were TCS, Bajaj Auto, Coal India, HDFC, Induslnd Bank and Bharti Airtel, ending with losses between 0.04 per cent and 1.34 per cent.
Yes Bank, Vedanta, Asian Paints, Dr Reddy's Laboratories and HCL Tech (rising between 2.02 per cent and 3 per cent) led the pack of Nifty gainers, while main losers on the index were TCS, Ultratech Cement, Titan, HDFC and Hero MotoCorp, ending with losses between 0.55 per cent and 1.57 per cent.
"Markets ended in green today, following positive cues from Asian markets. Sentiment was also boosted by Indian rupee appreciating against the US dollar due to positive data on US job market", said Viral Berawala, CIO, Essel Mutual Fund.
Shares in Reliance Industries Ltd rose 1.9 per cent. Among other gainers, Tata Steel rose more than 2 per cent after the company reported an 8 per cent rise in quarterly domestic production. Shares of Fortis Healthcare Ltd gained as much as 5.7 per cent on reports that Malaysia's IHH Healthcare Bhd is likely to acquire control of the hospital operator. (Also read: Tata Group Stocks Trade Higher After NCLT Verdict; TCS Bucks Trend)
Meanwhile, TCS will be the first bluechip firm to come out with its Q1 result on July 10. Other companies like Infosys, IndusInd Bank, Cyient and Indian Overseas Bank are also set to announce their Q1 earnings this week.
(With agency inputs)
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