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MARKET WRAP: Sensex up 1,075 pts, reclaims 39K-mark; Nifty ends at 11,603

All that happened in markets today.

SI Reporter  | New Delhi 

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Markets, Up, Down, BSE, NSE, Stocks
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The breathtaking rally in continued on Monday with the benchmark indices ending nearly 3 per cent higher, thus logging their best ever two-day gains. Equities have been on fire since Friday after Finance Minister Nirmala Sitharaman announced reduction in effective corporation tax rates to 25 per cent from 35 per cent, earlier.

The benchmark S&P BSE Sensex rallied 1,075 points or 2.83 per cent to settle at 39,090.03, with Bajaj Finance (up nearly 9 per cent) being the biggest gainer and Infosys (down 5 per cent) the worst performer. HDFC duos, ICICI Bank, L&T, ITC and Axis Bank contributed the most to the index's gains. 

On NSE, the Nifty50 index ended at 11,603.40, up 329 points or 2.92 per cent. The Nifty Bank index gained 1,566.90 points or 5.41 per cent to end at 30,548.45 levels. 

Volatility index India VIX zoomed nearly 11 per cent to 17.05 levels. 

Both the frontline indices -- Sensex and Nifty -- have surged 8 per cent in two trading sessions. 

Sectorally, IT and pharma counters bled in an otherwise strong market. The Nifty IT index dropped 2.88 per cent to 15,044.70 levels. Similarly, the Nifty Pharma index lost over 2 per cent to settle at 7,810.65 levels.

In the broader market, the S&P BSE MidCap index gained 434 points or 3 per cent to close at 14,554.46 and the S&P BSE SmallCap index added 361 points or 2.73 per cent to end at 13,565. 

GLOBAL MARKETS

Most Asian share slipped on Monday as investors waited for more clarity on Sino-US trade talks, while oil gained more than 1 per cent as Middle East tensions remained elevated. Chinese shares were in the red, with Shanghai’s SSE Composite stumbling 1.5% while the blue-chip index was down 1.65 per cent. Hong Kong’s Hang Seng index was 0.8 per cent weaker while South Korea’s KOSPI ended flat. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent at 510.04 points.

In Europe, pan-region Euro Stoxx 50 futures easing 0.3 per cent in early European trade and Germany’s DAX futures off 0.2 per cent. London’s FTSE futures were, however, a tad higher. E-mini futures for US S&P 500 and the Dow climbed nearly 0.4 per cent each.

(With inputs from Reuters)

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