Indian equity market ended over 1 per cent higher on Monday, rising for the third straight session amid firm global market trends and fresh foreign fund inflows. Sensex rallied 786.74 points to end at 60,746.59. During the day, it jumped 826.85 points to 60,786.70. Nifty gained 225.40 points or 1.27 per cent to end at 18,012.20.
UltraTech Cement (4.18 per cent) , Mahindra & Mahindra (2.70 per cent), HDFC (2.89 per cent), Sun Pharma (2.75 per cent) and HDFC Bank (2.76 percent) were the top Sensex gainers, rising up to 4.18 per cent. Dr Reddy’s (0.66 per cent), NTPC (0.60 per cent) and IndusInd Bank (0.43 per cent) were the sole Sensex losers.
Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities said, “The bullish momentum rebounded as benchmark Nifty recaptured the 18,000 mark despite the fact that the Federal Reserve indicated readiness to tighten more aggressively to fight surging inflation. Nifty is likely to be on the front foot in the near term with aggressive targets at its all-time-high at 18605 mark. Hopefully, a dovish Federal Reserve on November 2 leads into a new uptrend at Dalal Street. Investors will also be eyeing RBI MPC’s unscheduled meeting on Thursday, and US October jobs report on Friday.”
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Midcap and small cap indices on BSE rose 311.68 points and 129 points, respectively. Consumer durables, capital goods and auto shares were the top sectoral gainers with their BSE indices climbing 593 points, 504 pts and 475 points, respectively. All 19 BSE sectoral indices ended in the green.
Market breadth was positive with 1,854 stocks ending higher against 1, 693 stocks falling on BSE. 172 shares were unchanged. Market cap of BSE-listed firms stood at Rs 279.91 lakh crore.
Foreign institutional investors (FIIs) were buyers on Friday as they bought shares worth a net Rs 1,568.75 crore, as per exchange data.
Previous session
Equity market closed higher on Friday led by buying in index major Reliance Industries along with fresh foreign fund inflows. Sensex climbed 203.01 points or 0.34 per cent to close at 59,959.85 and Nifty gained 49.85 points to 17,786.80.
Maruti, Reliance Industries, NTPC, Power Grid, Mahindra & Mahindra, Bajaj Finserv, Titan and Kotak Mahindra Bank were the top Sensex gainers, rising up to 4.95 per cent.
Global markets
Elsewhere in Asia, markets in Seoul and Tokyo ended higher, while Shanghai and Hong Kong settled in the red. Stock exchanges in Europe were trading on a mixed note in mid-session deals. Wall Street had ended significantly higher on Friday. International oil benchmark Brent crude was trading 0.31 per cent lower at $95.47 per barrel.
