INDIAN EQUITY MARKET CLOSED HIGHER LED BY GAINS IN IT AND ENERGY STOCKS
Domestic equity market ended higher on Monday helped by gains in IT and energy stocks. However, major financial stocks declined after new recommendations by the Reserve Bank of India (RBI).
The BSE Sensex gained 194.90 points, or 0.44 per cent to settle at 44,077.15 levels .20 out of 30 stocks were in advance and 10 stocks were in decline. It touched intraday high of 44,271.15 and low of 43,747.22.
The NSE's Nifty ended at 12,926.45, up 67.40 points, or 0.52 per cent.36 out of 50 stocks were in advance while 14 stocks were in decline. It touched intraday high of 12,968.85 and low of 12,825.70.
On Sectoral front, Energy, IT, Pharma, Metal, Realty, Media, Auto, FMCG Indexes were the gainers with a gain of 2.79%, 2.79%, 1.83%, 1.22%,0.97%, 0.84%, 0.62%, 0.36% respectively while Bank Index was the only loser with a loss of 0.72%.
On BSE, Shares of ONGC, IndusInd Bank, Infosys, Tech Mahindra, Bajaj Finserv, Reliance, HCL Tech ,TCS were the gainers with a gain of 6.84%, 4.79%, 3.37%,. 3.33%, 2.78%, 2.72%, 2.45%, 2.42% respectively while shares of HDFC,ICICI Bank, Axis Bank, SBI, Mahindra & Mahindra, Titan, Bharti Airtel ,HDFC Bank were the losers with a loss of 3.55%, 2.48%, 1.99%, 1.69%, 1.50%, 1.37%, 1.33%,0.64% respectively.
On NSE, Shares of ONGC, IndusInd Bank, Gail, Dr. Reddy, Infosys, Tech Mahindra, wipro, Reliance, BPCL ,TCS were the gainers with a gain of 6.63%, 3.79%, 3.54%, 3.51%, 3.19%, 3.09%, 2.97%, 2.93%, 2.58%, 2.52% respectively while shares of HDFC,ICICI Bank, Axis Bank¸ SBI Life, Titan, SBI, Mahindra & Mahindra, Bharti Airtel, L & T, HDFC Life were the losers with a loss of 3.50%,2.48%,1.79%, 1.75%, 1.73%, 1.71%, 1.48%, 1.44%, 0.64%, 0.59% respectively.
Asian stocks rose on Monday as investors looked ahead to quarterly U.S. economic data amid unease about anti-coronavirus curbs on business and wrangling over the American presidential election.
European stocks climbed on Monday as hopes rise that effective coronavirus vaccines will start to be rolled out soon.
TOP STOCKS IN NEWS:
IndusInd Bank share price jumped nearly 4% on hopes the promoters could increase their stake in the bank if the suggestions by the RBI's special committee report are implemented.
Infosys rose over 4% as the company has emerged as the front-runner for a multi-year $1.3 billion deal from German automotive major Daimler focused on infrastructure management services, networks and data centres.
Tech Mahindra jumped over 3% as the had entered into a strategic partnership with Switzerland-based RUAG International, an organisation specialising in aerospace, for global IT infrastructure and digital transformation.
