INDIAN EQUITY MARKET HIGHER ON MONDAY LED BY IT STOCKS

Domestic Equity market ended higher on Monday led by rally in IT Stocks and private sector lenders such as HDFC Bank, and ICICI Bank.

The BSE Sensex settled at 276.65 points, or 0.71 per cent higher at 38,973.70 levels.14 out of 30 stocks were in advance while 15 stocks were in decline and 1 stock was unchanged. It touched intraday high of 39,263.85 and low of 38,819.89.

The Nifty50 ended at 11,503.35 , up by 86.40 points or 0.76 per cent.29 out of 50 stocks were in advance while 20 stocks were in decline and 1 stock unchanged. It touched intraday high of 11,578.05 and low of 11,452.30.

On Sectoral front IT, Metal, Pharma, Bank, FMCG, Realty Indexes were the gainers with a gain of 3.47%,2.55%, 1.70%, 0.56%, 0.34%, 0.25% respectively while Energy, Media, Auto Indexes were the losers with a loss of 0.34%,0.18%, 0.10% respectively.

On BSE, shares of TCS, Tata Steel ,Sun Pharma, Infosys, Tech Mahindra, IndusInd Bank,HCL Tech were the gainers with a gain of 7.30%, 4.71%, 3.23%, 3.00%, 2.26%, 1.63%, 1.25% respectively while shares of Bajaj Finserv, Bajaj finance, Bharti Airtel, Bajaj Auto, Powergrid, ITC, Ultratech Cement were the losers with a loss of 2.70%, 1.86%,1.85%, 1.27%, 1.156%, 0.91%,0.89% respectively.

On NSE, Shares of TCS, Wipro, Tata steel, Sun Pharma, JSW steel, Hindalco, Infosys, Tech Mahindra, Divi’s lab were the gainers with a gain of 7.55%, 7.01%,4.93%, 3.39%, 3.17%, 3.02%, 2.94%, 2.78%, 2.55% respectively while shares of Bajaj Finserv ,Shree cement ,Bharti Airtel, Bajaj Finance, Gail, Bajaj auto, Powergrid, Adani Ports ,Grasim, Ultratech Cement were the losers with a loss of 2.79%, 2.75%, 1.95%, 1.83%, 1.75%, 1.32%, 1.25%, 1.08%, 0.93%, 0.92% respectively.

Asian Shares rose on Monday as investors were encouraged by positive reports about President Donald Trump’s health after he tested positive for the coronavirus.

European stocks advanced on Monday as global markets are calmed by reports of President Trump’s improving health as he’s treated for Covid-19.

TOP STOCKS IN NEWS:

Tata Consultancy Services (TCS) gained over 7% after the company announced a share buyback plan amid expectation of strong earnings in the July – September quarter of the current fiscal (Q2FY21).

Tata steel jumped nearly 5% after reports that Chinese steelmaker Jingye Group has expressed an interest in taking over the company’s UK operations.

Infosys gained nearly 3% as the company has completed the acquisition of Czech Republic-based Guide Vision, an enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support on the Service Now platform.