Business
Sensex jumps 936 points as banking, financial stocks surge; Nifty settles above 16,850
NEW DELHI: Equity indices jumped for fifth straight session on Monday with the benchmark BSE sensex rising over 900 points led by gains in banking, financial stocks.
The 30-share BSE index surged 936 points or 1.68 per cent to close at 56,486; while, the broader NSE Nifty settled 241 points or 1.45 per cent higher at 16,871.
Top gainers in the sensex pack included Infosys, HDFC Bank, SBI, Maruti and Axis Bank with their shares rising as much as 3.76 per cent.
HUL, Sun Pharma, Dr Reddy’s and Tata Steel were the only losers falling up to 1.66 per cent.
On the NSE platform, sub-indices Nifty Media, Bank, Financial Services and IT gained as much as 2.45 per cent.
According to experts, markets extended gains from last week as easing crude oil prices on hopes of progress in Russia-Ukraine peace talks boosted sentiments.
Investors are also eyeing retail inflation data for the month of February which is due to be released later in the day.
“The decline in crude from the recent high… indicates that the feared high inflation may not materialise,” V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency Reuters.
Among individual stocks, digital payments company Paytm finished 12.84 per cent lower at Rs 675 after the central bank barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit of its IT systems.
Jubilant FoodWorks, the Indian franchise partner of Domino’s Pizza, fell as much as 12.27 per cent after company’s top boss resigned on Friday.
Most stocks markets in Asia firmed while oil prices extended last week’s decline.
Investors are also looking forward to US Federal Reserves’ outcome on Wednesday as it is largely expected to increase interest rates.
Meanwhile, foreign institutional investors (FIIs) continued their selling spree in Indian markets as they offloaded shares worth Rs 2,263.90 crore on a net basis on Friday, according to exchange data.
(With inputs from agencies)
The 30-share BSE index surged 936 points or 1.68 per cent to close at 56,486; while, the broader NSE Nifty settled 241 points or 1.45 per cent higher at 16,871.
Top gainers in the sensex pack included Infosys, HDFC Bank, SBI, Maruti and Axis Bank with their shares rising as much as 3.76 per cent.
HUL, Sun Pharma, Dr Reddy’s and Tata Steel were the only losers falling up to 1.66 per cent.
On the NSE platform, sub-indices Nifty Media, Bank, Financial Services and IT gained as much as 2.45 per cent.
According to experts, markets extended gains from last week as easing crude oil prices on hopes of progress in Russia-Ukraine peace talks boosted sentiments.
Investors are also eyeing retail inflation data for the month of February which is due to be released later in the day.
“The decline in crude from the recent high… indicates that the feared high inflation may not materialise,” V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency Reuters.
Among individual stocks, digital payments company Paytm finished 12.84 per cent lower at Rs 675 after the central bank barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit of its IT systems.
Jubilant FoodWorks, the Indian franchise partner of Domino’s Pizza, fell as much as 12.27 per cent after company’s top boss resigned on Friday.
Most stocks markets in Asia firmed while oil prices extended last week’s decline.
Investors are also looking forward to US Federal Reserves’ outcome on Wednesday as it is largely expected to increase interest rates.
Meanwhile, foreign institutional investors (FIIs) continued their selling spree in Indian markets as they offloaded shares worth Rs 2,263.90 crore on a net basis on Friday, according to exchange data.
(With inputs from agencies)
