Sensex zooms 293 points, Nifty retakes 10,700 as RIL, ICICI Bank rally; PC Jeweller surges 38%

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Published: May 7, 2018 4:08:58 PM

Indian stock markets ended on a positive note with the key equity indices Sensex and Nifty finishing at fresh three-month highs on Monday led by a sustained uptick in the shares of ICICI Bank, Reliance Industries, ITC, M&M, Axis Bank and L&T.

The benchmark Sensex shuttled between the range of 35,259.81 and 34,977.74 before settling up 292.76 points or 0.84% at 35,208.14 on Monday. (Image: Reuters)

Indian stock markets ended on a positive note with the key equity indices Sensex and Nifty finishing at fresh three-month highs on Monday led by a sustained uptick in the shares of ICICI Bank, Reliance Industries, ITC, M&M, Axis Bank and L&T. All the sectoral indices barring IT and pharma ended in green with Nifty PSU Bank, Nifty FMCG, Nifty Auto, Nifty Media, Nifty Metal, Nifty Realty rising more than 1% each. Amid the Nifty PSU Bank index, shares of Indian Bank, PNB, Bank of Baroda, Canara Bank, SBI, Allahabad Bank rose over 2%. Shares of PSE’s such as GAIL, SAIL, Oil India, ONGC, PFC, Nalco, IOC, BPCL, BEL, Power Grid and HPCL advanced 0.9% to 4.4%.

Shares of M&M, Axis Bank, Tata Steel, ICICI Bank, HUL, SBI, RIL, ONFC, ITC, Asian Paints, Wipro, L&T, Kotak Mahindra Bank and Adani Ports emerged as the lead gainers among the constituents of BSE Sensex. While, on the other hand, Shares of Dr Reddy’s, Coal India, TCS, Sun Pharma, HDFC Bank shed 0.5% to 1.75% today.

Among the ‘A’ group shares on BSE, stocks of PC Jeweller topped the deck of over 300 stocks rising as much as 37.9% to Rs 240.7 whereas Wockhardt, ICIL, Ujjivan Financial Services plunged 5% to 8%. The benchmark Sensex shuttled between the range of 35,259.81 and 34,977.74 before settling up 292.76 points or 0.84% at 35,208.14 on Monday. The NSE Nifty index added as much as 97.25 points or 0.92% to conclude at 10,715.5 on Monday.

The equities around the world also traded higher with China’s Shanghai Composite leading the charge amid the major Asian stock markets on Monday. “World shares were mostly higher Monday following strong gains on Wall Street after the U.S. jobless rate hit an 18-year low, helping investors overlook unresolved trade tensions between Washington and Beijing,” Associated Press said in a report. Japan’s Nikkei dropped less than 0.1% to close at 22,457.16 while Hong Kong’s Hang Seng index edged up 0.2% to 29,994.26, China’s Shanghai Composite gained 1.5% to 3,136.64. South Korean markets were closed for a holiday.

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