MARKET WRAP: Sensex gains 373 pts, Nifty ends at 10,629 led by FMCG stocks
The Nifty FMCG index ended 2.4 per cent higher led by Dabur India, Colgate Palmolive (India) and Hindustan Unilever
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Illustration by Ajaya Mohanty
The benchmark indices snapped out of a three-session losing streak, as they settled around 1 per cent higher on Monday led by a rise in the shares of private banks and fast moving consumer goods (FMCG).
The S&P BSE Sensex ended at 35,354, up 373 points or 1.1 per cent, while the broader Nifty50 index settled at 10,629, up 102 points or 1 per cent.
The S&P BSE Sensex ended at 35,354, up 373 points or 1.1 per cent, while the broader Nifty50 index settled at 10,629, up 102 points or 1 per cent.
In the broader market, S&P BSE MidCap index ended largely flat at 14,890 levels, while S&P BSE SmallCap index settled a tad lower at 14,329 levels.
In the sectoral universe, the Nifty FMCG index ended 2.4 per cent higher led by Dabur India, Colgate Palmolive (India) and Hindustan Unilever, while the Nifty Bank index settled 1.4 per cent higher led by Axis Bank.
Among individual stocks, shares of Bharti Airtel ended 2.1 per cent higher at Rs 335 apiece on BSE after the telecom operator said its African unit has appointed global investment banks for a proposed initial public offering (IPO) on an international stock exchange.
The rupee traded on a firm note on Monday rising to 70.30 per dollar in intra-day trade against its previous close of 70.69 against the greenback.
Global Markets
Asian stocks and US equity futures posted modest gains on Monday on hopes of solid US holiday sales, though risk appetite was tempered as plunging oil prices fanned worries about the global economic outlook.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.6 per cent, led by gains in Hong Kong and Taiwan, while Japan’s Nikkei advanced 0.8 per cent. In China, the Shanghai composite index eased 0.3 per cent.
Oil Prices
Oil prices on Monday clawed back some losses from a nearly 8 per cent plunge the previous session, with Brent jumping back above $60 per barrel, but sentiment remained weak amid a broad sell-off in financial markets in past weeks.
Front-month Brent crude oil futures rose $1.31, or 2.2 per cent, to $60.11 per barrel. US West Texas Intermediate (WTI) crude futures, were up 66 cents, or 1.3 per cent, at $51.08 per barrel.
(with Reuters input)
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The S&P BSE Sensex climbed 373 points or 1 per cent to settle at 35,354 while the Nifty50 index of National Stock Exchange gained 102 points or 0.97 per cent to end at 10,629.
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First Published: Nov 26 2018 | 8:10 AM IST
