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Indian benchmark equity indices BSE Sensex and Nifty 50 opened higher on Monday.
Sensex Today.
Indian equity indices opened higher on Monday after five consecutive days of decline amid sustained foreign selling and lackluster corporate quarterly earnings. Today’s gains were led by ICICI Bank, which beat September-quarter profit expectations due to healthy loan demand.
The BSE Sensex was trading 750 points, or 0.96%, higher at 80,105.12, while the Nifty50 rose 183 points, or 0.76%, to 24,364 around 10:21 am.
On the BSE Sensex, 11 out of the 30 stocks were trading in the red, with loses capped by JSW Steel (down 1.59 per cent), followed by Larsen & Toubro, IndusInd Bank, Power Grid Corp., and Tech Mahindra. On the flip side, gains were being led by ICICI Bank (up 2.54 per cent), followed by SBI, Infosys, Bajaj Finserv, and Sun Pharma.
On the Nifty 50, 30 out of the 50 stocks were trading in the green, with gains led by Shriram Finance (up 4.71 per cent), followed by ICICI Bank, BEL, BPCL, and Dr Reddy’s, while loses were capped by JSW Steel (down 1.85 per cent), followed by ONGC, Coal India, Kotak Mahindra Bank, and SBI Life.
Across sectors, the PSU Bank index was the top gainer, climbing around 1.8 per cent, while the Bank and Financial Services indices also climbed around 1 per cent.
The Auto, IT, Metal, Pharma, Health, Oil and Consumer Durables indices were also trading in the green, while the FMCG index was down 0.41 per cent.
In the broader markets, the Nifty Midcap 100 was up 0.58 per cent and the Nifty Smallcap 100 was up 0.56 per cent.
Global Cues
Apart from that, markets in the Asia Pacific region were mostly higher on Monday morning.
Japan’s benchmark Nikkei 225 and its Topix index climbed after the country’s Liberal Democratic Party lost its majority in Japan’s lower house following elections on Sunday.
The LDP and its coalition partner Komeito have secured 215 out of 465 seats, public broadcaster NHK reported early Monday morning local time. The opposition Constitutional Democratic Party and the Democratic Party for the People also made significant gains in this election.
The Nikkei was up 1.4 per cent, leading gains in Asia while the Topix was up 1.18 per cent.
South Korea’s Kospi climbed 0.59 per cent, while the small cap Kosdaq was 1.02 per cent higher.
Australia’s S&P/ASX 200 rose 0.15 per cent.
Hong Kong’s Hang Seng index was up 0.13 per cent, while mainland China’s CSI 300 was up 0.11 per cent and the Shanghai Composite was up 0.17 per cent.
However, global stocks had slipped on Friday, finishing the week lower amid US election jitters.
The benchmark S&P 500 ended slightly lower and closed the week down nearly 1 per cent, driven by losses in utilities and financials as well as gains in technology and communication-services stocks. Nasdaq finished the week higher.
The Dow Jones Industrial Average fell 0.61 per cent to 42,114.40, the S&P 500 eased 0.03 per cent to 5,808.12 and the Nasdaq Composite rose 0.56 per cent to 18,518.61.
The European shares index ended down 0.03 per cent after giving up gains in choppy trading and finished 1.2 per cent lower for the week.
