Sensex and Nifty opened little higher on Monday as most of the Asian markets fell in morning trade. Indian bond yields fell heavily in the early session today after the Reserve Bank of India withdrawn the sale of Rs 10,000 crore worth of bonds
Sensex and Nifty opened little higher on Monday as most of the Asian markets fell in morning trade. BSE Sensex gained 23.04 points to open at 33,365.84 whereas NSE Nifty added 3.6 points to begin at 10,287.2. Meanwhile, the Indian bond yields fell heavily in the early session today after the Reserve Bank of India withdrawn the sale of worth Rs 10,000 crore worth of bonds via open market operations. Earlier on Friday last week, when Moody’s upgraded India’s sovereign rating, RBI said, “In view of the recent market developments and based on a fresh review of the current and evolving liquidity conditions, it has been decided to withdraw the Open Market Sale Operations scheduled for 23 November 2017.”
Shares of NTPC, L&T, Maruti Suzuki, ONGC, ITC, and Adani Ports gained up to 1.6% while Cipla, ICICI Bank, Tata Steel and Infosys lost up to 1.2% on BSE Sensex. The stocks of heavyweight companies such as ITC, HDFC Bank, L&T, and Maruti Suzuki contributed the most to the Sensex gains. Collectively these four stocks added about 57 points to the index while ICICI Bank, Infosys and SBI capped the gains. The benchmark Sensex rose 106.73 points to hit the day’s high of 33,449.53 while the broader Nifty advanced 25.9 points to mark the day’s high at 10,309.5.
Among the regional markets, Japan’s benchmark Nikkei 225 index lost 0.6% to 22,271.35. Australia’s S&P/ASX 200 fell 0.2% to 5,946.6, South Korea’s Kospi dipped nearly 0.2% to 2,529.4, Hong Kong’s Hang Seng was down 0.1% at 29,186.16, while the Shanghai Composite index dropped 1.2% to 3,341.96, Associated Press reported.
Indian stock market pared off partial gains in the late afternoon trade but managed to close higher on Friday led by the optimism over India’s credit rating upgrade by Moody’s. BSE Sensex gained 235.98 points or 0.71% to end at 33,342.8 while NSE Nifty added 68.85 points or 0.67% to finish at 10,283.6. During the day, the benchmark Sensex advanced as much as 414 points to hit the day’s high of 33,520.82 whereas the broader Nifty jumped 124.4 points to mark the day’s high at 10,339.15.
Wall Street ended the week on a sour note on Friday, with major indexes slipping modestly as investors weighed the fate of the Republicans’ tax overhaul plan, Reuters reported. The Dow Jones Industrial Average fell 100.15 points or 0.43% to 23,358.21, the S&P 500 lost 6.84 points or 0.26% to 2,578.8 and the Nasdaq Composite dropped 10.50 points or 0.15% to 6,782.79.