Nifty PSU Bank index surges 4.94%. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME CANARA BANK 270.50 244.75 25.75 10.52 16712500 BANK OF BARODA 141.50 133.20 8.30 6.23 21473264 ST BK OF INDIA 246.50 234.80 11.70 4.98 30362239 UNION BANK (I) 91.10 86.85 4.25 4.89 13150328 BANK OF INDIA 102.05 97.45 4.60 4.72 13297579 Sectoral performers of the day BSE Sensex top gainers and losers of the day Market at close The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points. Titan Company shares hit record high of Rs 950 per share Shares of Titan Company have moved higher to their record high of Rs 950 per share, up 6% on the National Stock Exchange (NSE) after nearly 1% of total equity of the company changed hands in today’s trade so far. The stock surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade. READ MORE Nifty PSU Bank index gains 4%; SBI, BOB, Canara Bank up over 3% Shares of public sector banks were in focus with Nifty PSU Bank index gaining almost 4%. State Bank of India (SBI), Canara Bank, Bank of Baroda, Syndicate Bank, Union Bank of India and Union Bank of India from Nifty PSU Bank index were up more than 3%, while Indian Bank, Punjab National Bank (PNB), Oriental Bank of Commerce and Andhra Bank up in the range of 1% to 3% on the National Stock Exchange (NSE). READ MORE
The domestic indices trimmed morning lossses to end sharply higher on Monday after reports suggested that the United States and China have quietly started negotiations to improve US access to Chinese markets, thereby easing fears of a trade war between the two economic giants.
The S&P BSE Sensex ended at 33,066, up 470 points while the broader Nifty50 index settled at 10,131, up 133 points.
Among sectoral indices, the Nifty PSU Bank index ended 4.94% higher led by an over 10% rise in the shares of Canara Bank.
In the week ahead, domestic investors will look forward to the fiscal deficit data to be released on Wednesday. Also, the expiry of the current month futures and options contracts are due on Wednesday and positions will be rolled over to next month.
In the global markets, Japan’s Nikkei erased earlier losses of 1.3 per cent to end 0.7 per cent higher, while MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 per cent, flipping back to positive territory from a 0.5 per cent fall.
According to media reports, US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer listed steps that Washington wants China to take in a letter to Liu He, a newly appointed vice premier who oversees China’s economy.
Signs of talk between the two economic giants allayed fear of an escalating trade war, sparked after US President Donald Trump moved to slap tariffs on Chinese goods, on top of import duties on steel and aluminium, prompting a defiant response from Beijing.
(with Reuters inputs)