Sensex up 300 points, Nifty nears above; Eicher Motors jumps 7%
Kotak Mahindra Bank gained by 2.8 per cent, HDFC Bank by 2.2 per cent and ICICI Bank by 1.2 per cent. Grasim, Adani Ports, Asian Paints and Bharat Petroleum Corporation too traded with a positive bias.
New Delhi: The Indian markets added to their opening gains and were trading over 1 per cent higher in Monday’s afternoon deals, lifted mainly by financials and auto stocks.
The S&P BSE Sensex rose 400 points, or 1.05 per cent, to 38,830 levels and the Nifty50 index topped the 11,450-mark. Kotak Mahindra Bank and HDFC Bank gained 3 per cent each, followed by IndusInd Bank, HDFC, and Bajaj Finance (all up 2%).
Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the green with Nifty private bank moving up by 1.6 per cent, financial service by 1.5 per cent and auto by 1.1 per cent.
Among stocks, Eicher Motors witnessed a dramatic jump of 8.4 per cent to Rs 2,353 per share.
Kotak Mahindra Bank gained by 2.8 per cent, HDFC Bank by 2.2 per cent and ICICI Bank by 1.2 per cent. Grasim, Adani Ports, Asian Paints and Bharat Petroleum Corporation too traded with a positive bias.
However, those which lost were Tech Mahindra, HCL Technologies, Cipla, Sun Pharma and Titan.
Meanwhile, Asian shares advanced underpinned by hopes after the US Food and Drug Administration authorised the use of blood plasma from recovered coronavirus patients as a treatment option.
MSCI’s broadest index of Asia Pacific shares outside of Japan jumped by 0.65 per cent while Japan’s Nikkei reversed early losses to be up by 0.4 per cent. South Korea’s Kospi climbed by 0.9 per cent. (ANI)