The Economic Times daily newspaper is available online now.

    Sensex climbs 350 points on firm global cues; Nifty above 11,100

    Synopsis

    In the 30-share pack Sensex, Bajaj Finance was the biggest gainer, up 3.11 per cent at Rs 3,235.75. It was followed by ONGC, NTPC, Tata Steel, Axis Bank and Maruti Suzuki that gained in the range of 2-3 per cent.

    Broker-Shutter-1200Shutterstock.com
    Chinese shares opened higher and helped to underpin Asian markets after a tentative start, with the blue-chip CSI 300 index up 0.85 per cent. Shanghai's SSE climbed 0.5 per cent.
    NEW DELHI: Domestic equity indices continued their ascent on Monday, in line with global markets, as US lawmakers suggested a stimulus package may come soon. Meanwhile, speculations around RBI policy meeting outcome also kept the market buzzing.

    Investors looked for any signs of further stimulus after US House Speaker Nancy Pelosi said on Sunday a deal could be reached with the White House on a coronavirus relief package and that talks were continuing.

    At 9.55 am, BSE flagship Sensex was up 365.65 points or 0.98 per cent to 37,754.31 while NSE benchmark Nifty advanced 108.85 points or 0.99 per cent to 11,159.10. Auto, media, PSU banks saw buying while the IT sector saw profit booking.

    In the 30-share pack Sensex, Bajaj Finance was the biggest gainer, up 3.11 per cent at Rs 3,235.75. It was followed by ONGC, NTPC, Tata Steel, Axis Bank and Maruti Suzuki that gained in the range of 2-3 per cent.

    TCS was the biggest loser in the pack, down 2.09 per cent to Rs 2,371.75. Its peer Infosys and HCL Technologies were other losers in the pack that fell in the range of 0-1 per cent.

    Broader market indices were faring better than their headline peers as Nifty Smallcap gained 1.84 per cent while Nifty Midcap added 1.41 per cent. Broadest index on NSE, Nifty 500 was up 0.86 per cent.

    Nifty Metal was the biggest sectoral gainer on NSE, adding 1.88 per cent. It was followed by Nifty Realty that gained 1.79 per cent and Nifty Media that advanced 1.78 per cent. Nifty IT was the sole loser among them, down 0.33 per cent.

    Globally, Chinese stocks drove Asian markets higher though sentiment was still cautious ahead of a US Presidential debate and as a spike in new coronavirus cases undermined global economic recovery hopes.

    MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent to 550.47, but still within striking distance of a two-month low of 543.66 hit last week.

    The index is set to end the month deep in the red after three straight monthly gains as the pandemic continues to wreak economic havoc around the world and raises investor anxiety about sky-high valuations.

    Chinese shares opened higher and helped to underpin Asian markets after a tentative start, with the blue-chip CSI 300 index up 0.85 per cent. Shanghai's SSE climbed 0.5 per cent.

    Elsewhere, Japan's Nikkei was 0.75 per cent higher, partly on a lower yen, while South Korea's KOSPI index gained 1.1 per cent.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in