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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

Sectoral trends on NSE BSE Sensex: Top gainers & losers 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.  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 Buzzing Stocks: YES Bank up 20% from day's lows 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

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)

First Published: Mon, October 01 2018. 08:13 IST
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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)

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