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Financial stocks lift indices, Sensex gains 364 pts; Nifty ends at 11,466

All that happened in the markets today

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Markets | ICICI Lombard | Adani Enterprises

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Options trading gathers steam in Q2; share of cash in average volumes falls
Eicher Motors surged 10 per cent to Rs 2,389 on the BSE after the stock turned ex-date for stock split in the ratio 1:10.
Continuing its northward journey, the domestic stock market ended around 1 per cent higher on Monday, led by buying in private banks, and finance stocks.

The S&P BSE Sensex rallied 364 points or 0.95 per cent to settle at 38,799 levels while NSE's Nifty ended at 11,466 points, up 95 points or 0.83 per cent. Volatility index, India VIX, declined over 4 per cent to 19.12 levels. 

HDFC Bank, ICICI Bank, HDFC, and Reliance Industries (RIL) were among the major contributors to the Sensex's gains while Power Grid, Mahindra & Mahindra (M&M), and Infosys were the major drags. 

In the broader market, the S&P BSE MidCap index ended nearly 0.5 per cent higher at 15,019 levels while the S&P BSE SmallCap index outperformed the benchmark by surging nearly 1.6 per cent to 14,855.09 levels. 

Among sectoral indices on the NSE, Nifty Private Bank index gained the most - up 2.45 per cent to 12,484.50 levels. Nifty Bank climbed 533 points or 2.39 per cent to 22,833 levels. On the flip side, Nifty Realty lost 1 per cent while Nifty IT index slipped 0.3 per cent. 

Buzzing stocks

Eicher Motors surged 10 per cent to Rs 2,389 on the BSE after the stock turned ex-date for stock split in the ratio 1:10. The company has fixed August 25, 2020 as record date for the stock split. The stock ended flat at Rs 2,176.85. READ MORE
 
Shares of real estate developer The Phoenix Mills ended nearly 4 per cent higher at Rs 724.60 per share on the BSE after the company raised Rs 1,100 crore via its Qualified Institutional Placement (QIP). READ MORE

Shares of Adani Group companies rallied on the bourses on report that the group is set to acquire a 74 per cent stake in Mumbai International Airport (MIAL). 

Global markets

Equity gained for a second straight session on Monday as hopes for a coronavirus treatment boosted risk assets and geared up for the US Federal Reserve’s annual Jackson Hole meeting later in the week.

Europe’s pan-regional STOXX 600 rose 1.3 per cent and the global benchmark added 0.4 per cent after US regulators authorised the use of blood plasma from recovered patients as a treatment option.

In Asia, MSCI’s broadest index of Asia-Pacific shares ex-Japan jumped 0.8 per cent while Japan’s Nikkei added 0.3 per cent. 

In commodities, crude oil prices rose as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a Covid-19 treatment.

Gold prices, on the other hand, dipped as coronavirus treatment hopes boosted risk appetite.

(With inputs from Reuters)

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