Share market HIGHLIGHTS: Amid positive global cues, rupee appreciation and a slide in crude oil prices, Sensex and Nifty closed Monday’s trade on a bullish note. The BSE Sensex closed at 35,354.08 points, up 373.06 points or 1.07% from its Thursday’s close. On the National Stock Exchange, the Nifty 50 ended trade 101.85 points or nearly 1% higher at 10,628.60 points.
While the headline Sensex ended with gains of over 1%, the broader markets underperformed with the S&P BSE mid-cap index closing just 0.06% higher, while the small-cap index ended 0.15% lower at 14,329.08 points. HDFC Bank, HUL, ITC, TCS, Axis Bank, ICICI Bank, Reliance Industries, Hero MotoCorp, IndusInd Bank and Maruti Suzuki were the top Sensex contributors today.
On the NSE, the Nifty FMCG and banking indices were the top sectoral gainers, while the Nifty metals and pharma were the top losers. The Nifty banking index closed higher by 1.41%. Hero MotoCorp, Wipro, HUL, Axis Bank and Asian Paints were the top Nifty gainers, while ONGC, Sun Pharma, Yes Bank, Vedanta and Coal India were the top losers.
Asian stocks and U.S. equity futures posted modest gains on Monday on hopes of solid U.S. holiday sales, though risk appetite was tempered as plunging oil prices fanned worries about the global economic outlook, said a Reuters report. Oil prices bounced slightly after having dived 8% on Friday for their biggest weekly losses in almost three years as signs of slowing demand and rising US production intensified fears of a supply glut.