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MARKET WRAP: Sensex surges 164 pts, Nifty ends at 11,003; banks, autos gain
All that happened in markets today.
Extending their gains for the second straight day, equity benchmark indices ended in the positive territory on Monday led by buying in counters such as HDFC, Larsen & Toubro (L&T), ICICI Bank, Maruti and Bajaj Finance.
The S&P BSE Sensex added 164 points or 0.44 per cent to settle at 37,145.45, with YES Bank (up over 4 per cent) being the top gainer and HCL Tech (down 1.50 per cent) the worst performer.
On NSE, the Nifty50 index reclaimed the crucial 11,000 level to settle at 11,003.05, up 57 points or 0.52 per cent. Out of 50 constituents, 35 advanced while 15 declined.
Volatility index India VIX slipped around 3 per cent to settle at 15.79.
Market breadth was in favour of the bulls as out of 2,719 stocks traded on the BSE, 1,602 advanced, 935 declined while 182 remained unchanged.
In the broader market, the S&P MidCap index surged 130 points, or 0.97 per cent, to 13,495 levels, and the S&P BSE SmallCap ended at 12,709.96, up 115 points or 0.92 per cent.
On the sectoral front, all the indices on NSE, except Nifty IT index ended in the red. PSU bank stocks gained the most, followed by private bank and auto counters. The Nifty PSU Bank index gained 1.61 per cent to settle at 2,419.70.
Global stock markets gained on Monday as investors pinned their hopes on stimulus that’s expected from the world’s central banks to support slowing growth. European markets opened higher after data showed a surprise rise in German exports and on expectations of stimulus by the European Central Bank later this week. MSCI’s All Country World Index, which tracks shares across 47 countries, was up 0.05 per cent.
In Asian markets, China's blue-chip CSI300 index was up 0.6 per cent at 3,972.95, while the Shanghai Composite Index added 0.8 per cent to 3,024.74 points. Chinese yuan softened after Beijing’s latest stimulus package.
(With inputs from Reuters)