You are here: Home » Markets » News
Business Standard

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

The Nifty IT index settled 2.4 per cent higher led by a rally in Infibeam Avenues, Tata Consultancy Services (TCS) and Infosys. The Nifty PSU Bank ended 3.6 per cent higher led by IDBI and Indian Bank

SI Reporter  |  New Delhi 

Markets

The benchmark indices settled nearly 1 per cent higher on Monday led by gains in the information technology (IT) and banking stocks.

The S&P BSE Sensex ended at 36,526, up 299 points while the broader Nifty50 index settled at 11,008, up 78 points.

Among sectoral indices, the Nifty IT index settled 2.4 per cent higher led by a rally in Infibeam Avenues, Tata Consultancy Services (TCS) and Infosys. The Nifty PSU Bank ended 3.6 per cent higher led by IDBI Bank and Indian Bank.

Among key stocks, the shares of Infrastructure Leasing & Financial Services (IL&FS) Group companies rallied by up to 20% in intraday trade amid reports the government may move to seize control of the management of an Indian financier that’s roiled markets by defaulting on debt, with the move coming just after the beleaguered company unveiled details of a restructuring proposal.

Bandhan Bank hit the lower circuit, slipping 20 per cent to Rs 451.20 on the BSE following Reserve Bank of India’s (RBI's) decision to stop the private sector lender from opening new branches and freezing the remuneration of its managing director & chief executive officer (MD & CEO) Chandra Shekhar Ghosh.

The markets will remain closed on Tuesday on account of Gandhi Jayanti.

Going ahead, investors will look forward to RBI's interest rate decision will be announced Friday. At its previous monetary policy meeting in August, the central bank raised the benchmark interest rate by 25 basis points to 6.50 per cent on inflationary concerns. 

Global Markets

The Canadian dollar, the Mexican peso, US stock futures and many share markets gained on Monday after the United States and Canada forged a last-gasp deal to salvage a trilateral trade agreement in North America.

U.S. stock futures gained 0.5 per cent while Japan's Nikkei rose 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was soft, falling 0.25 per cent. China's financial markets were closed for a holiday, as was Hong Kong's stock exchange.

(with Reuters inputs)

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Sectoral trends on NSE

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

BSE Sensex: Top gainers & losers

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Market at close   The S&P BSE Sensex gained 299 points to close at 36,526 while NSE's Nifty50 index recliamed 11,000 level to settle at 11,008, up 78 points. 

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Top gainers in BSE500: COMPANY PRICE() CHG() CHG(%) VOLUME LAK. VILAS BANK 85.20 14.15 19.92 907392 IL&FS TRANSPORT 26.60 4.05 17.96 919978 INFIBEAM AVENUES 69.00 10.20 17.35 13446158 DEWAN HSG. FIN. 316.45 41.05 14.91 3787225 SREI INFRA. FIN. 36.05 3.70 11.44 940089 » More on Top Gainers

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Buzzing Stocks: YES Bank up 20% from day's lows

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Nifty PSU Bank index trading over 3 per cent higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME IDBI BANK 53.80 50.20 3.60 7.17 11741913 INDIAN BANK 243.65 227.40 16.25 7.15 2272093 PUNJAB NATL.BANK 62.55 59.70 2.85 4.77 33370548 UNION BANK (I) 68.85 65.75 3.10 4.71 8329813 BANK OF BARODA 103.30 99.50 3.80 3.82 25823528

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

IL&FS Group shares in focus; ITNL, IL&FS Engineering up 20% Shares of Infrastructure Leasing & Financial Services (IL&FS) Group companies have rallied by up to 20% after the IL&FS said that it will develop a comprehensive restructuring plan to repay its liabilities. READ MORE

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Lakshmi Vilas Bank up 20% after business update Shares of Lakshmi Vilas Bank (LVB) is locked in upper circuit of 20 per cent at Rs 85.25 on the BSE on Monday after the bank said its asset quality slippages during the current year, have considerably moderated and the Bank has seen impressive growth in low cost CASA balances. READ MORE

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

BSE IT index hits record high; TCS, Infosys hit new highs Shares of information technology (IT) companies were trading higher in otherwise weak market with Tata Consultancy Services (TCS) and Infosys hitting their respective new highs on the BSE on hopes that US economic growth, rupee fall will boost Indian exports.   TCS (Rs 2,273) and Infosys (Rs 754) touched a record high, gaining 4% on the BSE in intra-day trade. READ MORE

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

BSE forays into commodity derivatives with launch of gold, silver contracts The Bombay Stock Exchange (BSE) on Monday started offering of futures trading in gold and silver contracts to mark its entry into the commodity derivatives segment and become India’s first universal stock exchange with all assets classes including equity, mutual funds, currency and commodity in its portfolio. READ MORE

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 36,246.50 +19.36 +0.05   S&P BSE SENSEX 50 11,419.00 0.24 0.00   S&P BSE SENSEX Next 50 31,516.74 -257.40 -0.81   S&P BSE 100 11,127.92 -13.07 -0.12   S&P BSE Bharat 22 Index 3,443.71 -15.92 -0.46 (Source: BSE)

First Published: Mon, October 01 2018. 08:13 IST
RECOMMENDED FOR YOU

MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

The Nifty IT index settled 2.4 per cent higher led by a rally in Infibeam Avenues, Tata Consultancy Services (TCS) and Infosys. The Nifty PSU Bank ended 3.6 per cent higher led by IDBI and Indian Bank

The benchmark indices settled nearly 1 per cent higher on Monday led by gains in the information technology (IT) and banking stocks.

The S&P BSE Sensex ended at 36,526, up 299 points while the broader Nifty50 index settled at 11,008, up 78 points.

Among sectoral indices, the Nifty IT index settled 2.4 per cent higher led by a rally in Infibeam Avenues, Tata Consultancy Services (TCS) and Infosys. The Nifty PSU Bank ended 3.6 per cent higher led by IDBI Bank and Indian Bank.

Among key stocks, the shares of Infrastructure Leasing & Financial Services (IL&FS) Group companies rallied by up to 20% in intraday trade amid reports the government may move to seize control of the management of an Indian financier that’s roiled markets by defaulting on debt, with the move coming just after the beleaguered company unveiled details of a restructuring proposal.

Bandhan Bank hit the lower circuit, slipping 20 per cent to Rs 451.20 on the BSE following Reserve Bank of India’s (RBI's) decision to stop the private sector lender from opening new branches and freezing the remuneration of its managing director & chief executive officer (MD & CEO) Chandra Shekhar Ghosh.

The markets will remain closed on Tuesday on account of Gandhi Jayanti.

Going ahead, investors will look forward to RBI's interest rate decision will be announced Friday. At its previous monetary policy meeting in August, the central bank raised the benchmark interest rate by 25 basis points to 6.50 per cent on inflationary concerns. 

Global Markets

The Canadian dollar, the Mexican peso, US stock futures and many share markets gained on Monday after the United States and Canada forged a last-gasp deal to salvage a trilateral trade agreement in North America.

U.S. stock futures gained 0.5 per cent while Japan's Nikkei rose 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was soft, falling 0.25 per cent. China's financial markets were closed for a holiday, as was Hong Kong's stock exchange.

(with Reuters inputs)

image
Business Standard
177 22