Closing Bell: Sensex ends over 300 points higher, Nifty above 10,750; consumption, metals gain big.
It’s a strong start to the week, with the Sensex ending over 300 points higher, while the Nifty surged past 10,750 on the back of intense buying.
Buying counters were buzzing among sectors such as automobiles, consumption, energy, infrastructure, IT, metals and pharmaceuticals as well. In the broader markets, the Nifty Midcap index rose around half a percent.
Financials saw a rally as news reports indicated that the central bank was open to tweaking/review of PSU banks’ prompt corrective action (PCA) plan.
At the close of market hours, the Sensex closed up 317.72 points or 0.90% at 35774.88, while the Nifty was higher 81.20 points or 0.76% at 10763.40. The market breadth was narrow as 1,330 shares advanced, against a decline of 1,278 shares, while 160 shares were unchanged.
Yes Bank and ITC were the top gainers, while ONGC, ICICI Bank, Indiabulls Housing and GAIL lost the most.
HEADLINES OF THE DAY
Indian Sugar Mills Association has said that sugar output as of November 15, 2018 has been reported at 11.63 lakh tonnes against 13.73 lakh tonnes year on year.
Oil India gains ahead of board meeting: Share price Oil India gained 2.6 percent ahead of board meeting scheduled to be held on November 19, 2018.
Shares of PNB Gilts fell 3.3 percent after company reported weak set of numbers for the quarter ended September 2018.
Yes Bank surges 6% Shares of Yes Bank are higher by 6 percent after ratings agency ICRA affirmed long term rating of AA+ for the bank with negative implications.
Share price of Tata Investment Corporation gained more than 8 percent in the early trade on Monday after company approved the buyback plan.
The crucial resistance for Nifty spot is now seen at 10830 and above this 10920 Support for the immediate term is now placed at 10680 next support will be 10510.
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