Indian equity indices end higher on firm global cues

Mumbai: The key Indian equity indices rose on Monday in line with their international peers after signs emerged over easing of recent global trade protectionist measures.

According to market analysts, other global cues such as supportive US-based macro-economic data, and healthy buying in consumer durables, banking and oil and gas stocks aided in the equity indices’ northward trajectory.

Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) ended the day’s trade at 10,379.35 points — up 47.75 points or 0.46 per cent from its previous close.

The barometer 30-scrip Sensex of the BSE, which opened at 33,608.59 points, closed at 33,788.54 points — up 161.57 points or 0.48 per cent from its previous session’s close.

The Sensex touched a high of 33,697.51 points and a low of 33,501.37 points during the intra-day trade.

The BSE market breadth was bullish with 1,642 advances and 1,087 declines. Similarly, the market breadth was positive on the NSE.

“The gains came on the back of positive global cues as they rallied on the expectation that a full blown trade war between the United States and China could be averted,” Deepak Jasani, Head, Retail Research, HDFC Securities told IANS.

He further said that broad market indices like the BSE mid-cap and small-cap indices gained less, thereby underperforming the main indices.

According to Vinod Nair, Head of Research, Geojit Financial Services, markets extended gains tracking positive cues from Asian and European peers on account of lower than expected US non-farm payrolls easing concerns about sharp rise in US interest rates.

On the currency front, the Indian rupee weakened around five paise to end at 65.02 against the US dollar.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,300.93 crore, while the domestic institutional investors purchased stocks worth Rs 359.35 crore.

Sector-wise, S&P BSE consumer durables index, gained the most, with 377.24 points followed by, banking index, up 250.76 point and oil and gas index, up 225.89 points.

Top losers among the BSE sectors were: S&P BSE information technology index, down 112.58 points, S&P BSE Teck (technology, media and entertainment), down 64.68 points and healthcare index, down 35.86 points.

Major Sensex gainers on Monday were: Axis Bank, up 3.44 per cent at Rs 517.90; Mahindra and Mahindra, up 2.15 per cent at Rs 786.00; ITC, up 2.05 per cent at Rs 265.95; IndusInd Bank, up 1.90 per cent at Rs 1,858.45; and Hindustan Unilever, up 1.18 per cent at Rs 1,391.85

Top losers on Sensex were: Tata Motors (DVR), down 2.11 per cent at Rs 202.05; Indosys, down 1.62 per cent at Rs 1,110.95; Tata Motors, down 1.53 per cent at Rs 358.30; Bharti Airtel, down 1.21 per cent at Rs 380.75; and TCS, down 0.97 per cent at Rs 2,921.15 per share.