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MARKETS: Sensex ends 383 points up at 37,054; sees biggest jump in 6 months
Here's a look at all that happened in markets today
Following Asian peers, the domestic equity market ended with sharp gains on Monday, led by across-the-board buying, barring IT counter. The S&P BSE Sensex reclaimed the crucial 37,000 mark to end at 37,054, up 383 points or 1 per cent. This is the biggest gain for the index in nearly six months. The 50-share Nifty added 133 points, or 1.23 per cent, to close at 11,068. Out of 50 constituents, 42 ended in the green.
Among sectoral indices, the Nifty PSU Bank index gained 2.25 per cent higher with IDBI Bank and Union Bank being the top gainers. The Nifty Metal index climbed nearly 3 per cent led by gains in Jindal Stainless (Hisar) and Welsun Corp.
In the broader market, the S&P BSE Midcap index ended up 290 points, or 1.96 per cent higher at 15,095, while the S&P BSE SmallCap index ended at 14,763, up 234 points, or 1.61 per cent.
Among individual stocks, Bharti Airtel zoomed over 8 per cent to end at Rs 335. Last week, news reports surfaced the Singapore government’s investment arm GIC will pick up 4 per cent stake in Bharti Airtel for Rs 5,000 crore by subscribing to the telco’s Rs 25,000 crore rights issue.
Shares of Godfrey Phillips India surged 11 per cent in the intra-day trade, hitting a 52-week high of the BSE after the company issued a clarification regarding alleged violation of the Foreign Direct Investment (FDI) laws of India. The cigarettes and tobacco products company said the allegations were"completely misconceived and misplaced". The stock closed at Rs 1,036 apiece, up 10 per cent.
Asian shares inched up on Monday as Chinese markets rebounded on hopes of more policy support for the slowing economy, but surprisingly weak U.S. employment data raised doubts about the strength of the global economy and limited gains.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, paring a quarter of Friday’s 1.6 per cent fall, its second-biggest decline so far this year. Japan’s Nikkei gained 0.5 per cent after four consecutive sessions in the red last week.
(With inputs from Reuters)