Markets end four-day losing streak; Sensex, Nifty gain on rally in auto, bank stocks
In the 50-stock Nifty50, 40 advanced. Top gainers were State Bank of India (SBI), Indusind Bank, Hindalco Industries, Coal India and Bajaj Finserv while top losers were Cipla, Divis Laboratories, Dr Reddys Laboratories, Nestle India and Kotak Mahinda Bank
Indian stock markets ended their four-day losing streak on Monday. Frontline indices S&P BSE Sensex and NSE Nifty50 extended gains after a cautious opening. Sensex closed at 60,566.42, up by 721 points or 1.20 per cent while the broader market Nifty surpassed 18000 level to finish at 18,014.60, up 207.80 points 1.17 per cent. Banking gauge Bank Nifty with gains of 962 points or 2.31 per cent at 42,630.15.
India VIX, a measure of volatility in Nifty was down 1.4 per cent at 15.93.
In the 50-stock Nifty50, 40 advanced. Top gainers were State Bank of India (SBI), Indusind Bank, Hindalco Industries, Coal India and Bajaj Finserv while top losers were Cipla, Divi's Laboratories, Dr Reddy's Laboratories, Nestle India and Kotak Mahinda Bank.
Barring Nifty Pharma (-0.84 per cent) and Nifty Healthcare Index (-0.85 per cent), all other Nifty sectoral indices ended in the green. Nifty PSU Bank was in the spotlight with 7.29 per cent gains. Nifty Bank, Nifty Realty and Nifty auto were other top gainers.
The exuberance reflected in broader markets as well. Nifty Mid Cap 100 ended at 30,977, gaining over 800 points or 2.72 per cent. In the 100-stock index, 91 were gainers. The top gainers were Union Bank, Poonawalla Fincorp and Yes Bank while top losers were Lal Pathlabs, IPCA Labs and Lupin.
There were 93 advances against 7 declines in Nifty Small Cap 100 index. Easy Trip Planners, Maharashtra Bank and Suzlon were top gainers while DCM Shriram, Glenmark Pharma and Metropolis Healthcare were top losers.
Out of 3,768 stocks that traded on 2,874 gained, 762 declined while 132 remained unchanged. 55 stocks hit their 52-week high levels while 212 hit their 52-week lows.
Radiant Cash Management Services IPO was overall subscribed 0.05 times on the NSE. The retail portion was subscribed 0.06 times.
Global markets in at least a dozen major economies including US and UK are closed today on account of extended Christmas holiday. Singapore-based SGX Nifty was trading at 18,029, up 165 points or 0.92 per cent. Among top Asian indices, Nikkei 225 ended at 26,405.90, up 170.62 or 0.65 per cent while China's Shanghai Composite was up by 19.70 points or 0.65 per cent at 3,065.56. Hang Seng is also closed today.
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