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Sensex Jumps Over 350 Points, Nifty Crosses 11,950 Mark: 10 Things To Know

The Sensex and Nifty had ended 1.61 per cent and 1.6 per cent higher on Friday.

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HDFC Bank, HDFC and L&T contributed the most to the advances on Sensex

Domestic stock markets registered sharp gains on Monday shrugging off early losses, despite weakness in Asian peers amid US-China trade concerns. The S&P BSE Sensex rose as much as 387.22 points to 39,821.94, and the NSE Nifty moved to 11,957.15, up 113.05 points from the previous close. Advances in financials, metal and infrastructure stocks pushed the markets higher however the upside was limited by weakness in pharma counters. Analysts expect some volatility in the markets ahead of the release of GDP data and the expiry of monthly derivatives contracts this week. Meanwhile, the rupee appreciated by as much as18 paise to69.35 against the dollar.
Here are 10 things to know:
  1. At 11:42 pm, the Sensex traded 335.86 points - or 0.85 per cent - higher at 39,770.58, while the Nifty was up 99.95 points - or 0.84 per cent - at 11,944.05. 
  2. Top percentage gainers on the 50-scrip index were Tata SteelGrasim Industries, Yes Bank, NTPC and Larsen & Toubro (L&T), trading between 3.06 per cent and 5.12 per cent higher.
  3. HDFC Bank, HDFC and L&T contributed the most to the advances on Sensex.
  4. The Nifty Bank index rose as much as 0.99 per cent. Besides Yes Bank, prominent gainers on the sectoral index included Punjab National Bank, Bank of Baroda and Axis Bank, which rose between 1.35 per cent and 3.4 per cent. Heavyweight State Bank of India (SBI) rose as much as 1.79 per cent.
  5. "We have a new government and we are seeing stock specific rally. There will be sectors which are likely to outperform and markets are now waiting for a new policy," said AK Prabhakar, head of research at IDBI Capital.
  6. Market breadth favoured the upside in the markets, with 1,306 stocks trading in the positive zone and 423 struggling with losses on the National Stock Exchange (NSE). On the BSE, 1,701 stocks advanced at the time, while 681 declined.
  7. Midcap and smallcap stocks outperformed the benchmark indexes, with the S&P BSE Midcap and Smallcap indexes rising as much as 1 per cent and 1.62 per cent respectively.
  8. On the other hand, the Nifty Pharma index dropped as much as 1.34 per cent, dragged lower by losses in Lupin and Dr Reddy's Laboratories.
  9. Equities in other Asian markets hovered near four-month lows on Monday amid concerns about US-China tensions, with MSCI's broadest index of Asia-Pacific shares outside Japan virtually flat, a sliver above from a four-month low touched on Friday, while market holidays in the US and UK dented trading volumes. Japan's Nikkei average was up 0.3 per cent by its midday break.
  10. The Sensex and Nifty had ended 1.61 per cent and 1.60 per cent higher on Friday, after the Bharatiya Janata Party-led National Democratic Alliance (NDA) won an overwhelming majority in the recently concluded general elections. 

(With inputs from Reuters)





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