INDIAN EQUITY MARKET CLOSED WITH GAINS LIFTED BY BANKING STOCKS

Domestic Equity Market ended with gains on Monday led by gains in bank stocks, while gains in Asian markets further uplifted the sentiment.

The BSE Sensex jumped 592.97 points, or 1.59 per cent to 38,981.63 levels.27 Out of 30 stocks were in advance while 3 stocks were in decline .It Touched intraday high of 38,035.87 and low of 37,544.05.

The Nifty 50 settle at 11,227.55, up 17730 points, or 1.60 per cent.46 out of 50 stocks were in advance while 4 stocks were in decline. It touched intraday high of 11,239.35 and low of 11,099.85.

On Sectorial Front, All the sectorial Indexes were in green. Media, Bank, Auto, Realty, Metal ,Energy, Pharma, FMCG,IT Indexes were having a gain of 4.77%,3.26%, 3.04%, 3.03%, 2.96%, 2.59%, 1.73%, 0.85%, 0.78% respectively.

On BSE, Shares of Indusind Bank, Bajaj Finance ,Axis Bank, Powergrid, ONGC, Sun Pharma, ICICI Bank ,Mahindra & Mahindra were the gainers with a gain of 7.85%,6.29%, 5.83%, 4.51%, 4.35%, 4.24%,4.13%, 3.77% respectively while shares of HUL ,Infosys, Nestle India were the losers with a loss of 0.66%,0.15%,0.08% respectively.

On NSE, Shares of IndusInd Bank ,Bajaj Finance ,Axis Bank, ONGC, Tata Motors, Powergrid, Adani Ports, Sun Pharma, ICICI Bank ,Grasim, Mahindra & Mahindra were the gainers with a gain of 7.99%,6.41%,5.54%, 4.64%,4.60%, 4.51%,4.49%, 4.14%, 4.13%,3.79%,3.70% respectively while shares of Wipro, HUL ,Nestle India ,Infosys were the losers with a loss of .75%, 0.53%, 0.11%,0.05% respectively.

Asian markets were trading mostly higher on Monday ahead of a US Presidential debate and amid a resurgence of Covid-19 cases in Europe.

European stocks rallied Monday, looking to recover from their worst week since mid-June, with a global rise in coronavirus cases and political developments stateside on investors’ radar.

TOP STOCKS IN NEWS:

Axis bank gained over 5% as the bank has launched a full-feature savings account termed as ‘Full Power Digital Account’ that can be opened digitally.

Shares of ONGC rose over 4% on reports that India is considering a floor price for natural gas produced from local field.

Sunpharma jumped over 4% after the company announced closure of buyback of equity shares of the company.