Domestic equity indices BSE Sensex and NSE Nifty ended on a bullish note
on Monday, driven by heavy gains in index heavyweight Infosys, Sun
Pharmaceutical Industries, Maruti Suzuki India, Tata Consultancy
Services and Mahindra & Mahindra . The 30-share index settled
160.48 points higher at 38,896 level and the broader Nifty50 ended at
11,588, registering a gain of 35 points.
the Market rundown today, Vinod Nair, Head of Research, Geojit Financial
Services said,"Green shoots from earnings lifted the sentiment of IT,
while ease in WPI inflation (June) to 2.02% added some cheer in the
On the sectoral front, IT and Tech indices were
among top gainers, while capital goods and consumer durable stocks were
among top laggards.
"Nifty bank has given negative
closing at 30446 with loss of 156 points, support for nifty bank is
coming near 30330-30200 zone and resistance is coming near 30600-30850
zone," Mr. Rohit Singre, Senior Technical Analyst - LKP Securities
quoted on today's Nifty Movement.
Earlier today, market
witnessed volatility ahead of release of WPI inflation numbers, that
came later in the day to support today's uptick. Wholesale price-based
inflation declined for the second consecutive month to its 23-month low
of 2.02% in June and rose by 0.2% to 121.5 from 121.2 for the previous
Inflation in food articles basket eased
marginally to 6.98% in June, from 6.99% in May and Vegetable inflation
softened from 33.15 per cent in the previous month to 24.76% in June.
shares rallied nearly 7% to hit a new all time high in intra-day trade
today, registering the most gain in a year's period, after the company
reported strong June quarter earnings on Friday and increased its
revenue growth guidance for fiscal year 2020.
Allahabad Bank declined nearly 15 % on Monday after the lender reported a
fraud on Saturday of over Rs 1,774 crore by Bhushan Power and became
the second Indian state-owned bank to report a major alleged fraud by
DHFL share price hit lower circuit
of 9.93% to 61.65 in early trade today after the housing finance
company said its financial situation was so grim that it may not survive
and reported a huge standalone net loss of Rs 2,223 crore in the fourth
quarter ended March 31.
On the currency front, Indian
Rupee opened strong at 68.59 at the interbank forex market today and
gained 16 paise to touch 68.53 per dollar driven by positive opening in
domestic equities and easing crude oil prices. However, foreign fund
outflows weighed on the domestic currency and restricted the up move.
European shares drifted lower in their respective early sessions, U.S.
equity futures grew following firm cues from Asian equities. Elsewhere
in Asia, the Shanghai Composite Index, Hang Seng and Nikkei started
day's trade higher and ended in the green.
near $60 a barrel earlier as fears about tropical storm slashed U.S.
Gulf of Mexico crude output by 73% amid cuts in U.S. oil production and
diplomatic tensions in the Middle East.
Brent crude futures rose 0.6%, to $67.12 a barrel, while U.S. crude was up 0.32%, at $60.40 a barrel.