EQUITIES

Sensex, Nifty gain nearly 2% on firm global cues; these factors driving markets higher today

Sensex, Nifty

In line with Asian peers’ performance headline indices, BSE Sensex and Nifty 50 advanced nearly 2 per cent in Monday’s trade lifted by autos and financial stocks. The 30-share Sensex soared over 650 points to hit day’s high of 32,302. The broader Nifty 50 jumped nearly 200 points and touched 9,440 in today’s trade. The top index contributors include Reliance Industries, HDFC Bank, Infosys, TCS, ITC and HDFC. UltraTech Cement was the top Sensex gainer with a growth of 4 per cent, followed by Maruti Suzuki, Hero MotoCorp, Bajaj-Auto and IndusInd Bank.

RIL hits Rs 10 lakh crore m-cap: Reliance Industries market capitalisation back above Rs 10 lakh crore on Monday after the share price jumped 3.4 per cent to trade at Rs 1,614.85 apiece on BSE. At 10 AM, RIL market capitalisation stood at Rs 10,14,748.30.

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IRCTC hit upper circuit: IRCTC share price hit 5 per cent upper circuit at Rs 1302.85 apiece on BSE in Monday’s trade as Indian Railways announced the gradual resumption of passenger train services from May 12.

Nifty Auto top sectoral gainer: Barring Nifty Pharma and Nifty PSU Bank indices, all the sectoral indices were trading in positive territory. Nifty Auto index jumped 2.68 per cent led by Motherson Sumi Systems which gained over 7 per cent. It was followed by Tata Motors and TVS Motors, up 5 per cent and 4.23 per cent, respectively. Nifty IT index also jumped over 2 per cent.

Q4 earnings today: Godrej Properties, Piramal Enterprises, Wockhardt, Sonata Software, Motilal Oswal Financial Services, Godrej Agro and Saint Gobain are among 13 companies which are scheduled to announce their March quarter earnings today.

FII and DII data: Foreign institutional investors (FIIs) bought shares worth Rs 1,724.71 crore while domestic institutional investors (DIIs) sold shares worth Rs 1,503.14 crore on May 8, according to the data available with NSE.

Global markets: Asian stock markets followed Wall Street on Monday as investors looked ahead to more countries restarting their economies. In Friday’s overnight trade on Wall Street, US indices logged gains for the week following data on historic job losses due to the COVID-19 crisis showed they were slightly fewer than feared. The Dow Jones Industrial Average rose 455.43 points, or 1.91%, to 24,331.32, the S&P 500 gained 48.61 points, or 1.69%, to 2,929.8 and the Nasdaq Composite added 141.66 points, or 1.58%, to 9,121.32.

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