Buying counters were buzzing the most among banks as well as metals, along with FMCG, infrastructure, IT and pharmaceuticals, among others. Midcaps, too, added to the gain, with the Nifty Midcap index surging almost a percent.
Market Update: It’s a strong trading day for the market on this Monday morning, with benchmarks clinching fresh record highs. The Sensex is up over 350 points, while the Nifty has hit 11,650 as well.
Buying counters were buzzing the most among banks as well as metals, along with FMCG, infrastructure, IT and pharmaceuticals, among others. Midcaps, too, added to the gain, with the Nifty Midcap index surging almost a percent. Strong global cues are also helping D-Street.
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At 09:50 hrs IST, the Sensex is up 350.21 points or 0.92% at 38602.01, and the Nifty up 99.30 points or 0.86% at 11656.40. The market breadth is positive as 1,273 shares advanced, against a decline of 512 shares, while 116 shares were unchanged.
Among shares, Future Retail is up 3 percent on a report of Paytm, Google eyeing 7-10% stake in the firm, while RIL is up 1 percent on the buzz of Jio becoming second largest telco by revenue market share.
Market opens: It’s a good start to this Monday morning on D-Street as equities rode on positive global sentiment. The Sensex and Nifty have hit fresh record highs. The 50-share index is also trading above 11,600.
Banks and metals are leading the charts among sectoral indices, while pharmaceuticals, FMCG, and infrastructure are following them. There is strong growth in midcaps seen as well, with the Nifty Midcap gaining around a percent.
The Sensex is up 204.70 points or 0.54% at 38456.50, while the Nifty is up 62.60 points or 0.54% at 11619.70. The market breadth is positive as 447 shares advanced, against a decline of 120 shares, while 61 shares were unchanged.
State Bank of India, Yes Bank, and Hindalco are the top gainers, while Wipro, TCS, and Bharti Infratel have lost the most.
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Market opens: It’s a good start to this Monday morning on D-Street as equities rode on positive global sentiment. The Sensex and Nifty have hit fresh record highs. The 50-share index is also trading above 11,600.
Banks and metals are leading the charts among sectoral indices, while pharmaceuticals, FMCG, and infrastructure are following them. There is strong growth in midcaps seen as well, with the Nifty Midcap gaining around a percent.
The Sensex is up 204.70 points or 0.54% at 38456.50, while the Nifty is up 62.60 points or 0.54% at 11619.70. The market breadth is positive as 447 shares advanced, against a decline of 120 shares, while 61 shares were unchanged.
State Bank of India, Yes Bank, and Hindalco are the top gainers, while Wipro, TCS, and Bharti Infratel have lost the most.
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Rupee opens: The Indian rupee gained in the opening trade on Monday. It has opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.
On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead of Fed chairman statement at the Jackson Hole Symposium. In the recent past, the rupee has been under pressure primarily on the back of global factors than domestic factors, said Motilal Oswal.
Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack. Data released by RBI showed FX reserves for the week ended August 24 remained more or less unchanged compared to previous week at USD 400.84 billion.
On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead of Fed chairman statement at the Jackson Hole Symposium. In the recent past, the rupee has been under pressure primarily on the back of global factors than domestic factors, said Motilal Oswal.
Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack. Data released by RBI showed FX reserves for the week ended August 24 remained more or less unchanged compared to previous week at USD 400.84 billion.
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