Share market Highlights: After opening marginally higher tracking positive global cues, the Sensex and Nifty extended gains in the afternoon trade on Monday, buoyed by a rally in IT bluechips. The Sensex ended 342 points higher at 36,213.38, while Nifty closed 88 points higher at 10,880.10. TCS shares gained more than 3% to Rs 1,985. Infosys shares closed 3% higher at Rs 754.90.
After today’s rally, the Sensex has turned positive for the year. Stocks staged a strong comeback on Monday on heavy foreign fund inflows and increased buying by domestic institutional investors. Infosys share price jumped by more than 3% to Rs 756, while TCS shares gained more than 3.5% to Rs 1,985.50.
Earlier, the S&P 500 posted its highest closing level since Nov 8 on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China. Investors assessed a slew of headlines on the talks, with top trade negotiators from the two countries meeting to wrap up a week of discussions on some of the thorniest issues in their trade war, Reuters reported.
Asian shares scaled a 5-month peak on Monday after U.S. President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”. The Australian dollar, a liquid proxy for China investments, got a 0.4 percent lift from the news and the dollar touched a fresh seven-month low on the yuan, Reuters reported. We bring to you LIVE updates.