Sensex ends 470 pts higher, Nifty settles at 10,131; PSU Bank index up 5%
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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)
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)
3:40 PM
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 |
3:37 PM
Sectoral performers of the day
3:36 PM
BSE Sensex top gainers and losers of the day
3:32 PM
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.
3:23 PM
Titan Company shares hit record high of Rs 950 per share
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The stock surpassed its previous high of Rs 938 recorded on January 9, 2018 in intra-day trade. READ MORE
3:10 PM
Nifty PSU Bank index gains 4%; SBI, BOB, Canara Bank up over 3%
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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
2:59 PM
World stocks bounce back from 6 week low on report of US-China trade talks
World stocks came off six-week lows and US stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies.
World stocks came off six-week lows and US stock futures jumped on Monday on optimism that the United States and China are set to begin negotiations on trade, easing fears about a trade war between the world's two largest economies.
MSCI's world equity index, which tracks shares in 47 countries, turned positive on the day, having earlier hit its lowest level since February 9, after a Wall Street Journal report that Treasury Secretary Mnuchin was considering a visit to Beijing to begin negotiations.
2:47 PM
India bonds lose their charm for foreign investors
After betting strongly on Indian bonds last year, foreign investors are cutting their holdings as a tumbling rupee erodes their returns and economic risks cloud the outlook of a once-hot emerging market play.
With only three trading sessions left in March, foreign investors have sold a net $1.12 billion in Indian debt, the strongest monthly outflow since December 2016, and are now on the verge of turning net sellers for the year so far.
2:29 PM
Buzzing Stock
Adani Enterprises rose 2.46% to Rs 156.05 on BSE after the company said its subsidiary signed a coal mining agreement with NLC India.
On the BSE, 3.65 lakh shares were traded in the counter so far compared with average daily volumes of 9.35 lakh shares in the past two weeks
2:16 PM
Bharat Financial gains after assignment transaction
Bharat Financial Inclusion rose 0.58% to Rs 1,080.95 on BSE after company said that it has completed direct assignment transaction of Rs 1391 crore. The announcement was made after market hours on Friday, 23 March 2018. READ MORE
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First Published: Mar 26 2018 | 3:30 PM IST