Markets break five-session losing streak – Sensex up 235.44 points, Nifty gains 83.35
Cipla, Sun Pharmaceuticals, Tata Steel, Adani Ports and Hero MotoCorp were among the top gainers on both indices.
The Bombay Stock Exchange Sensex on Monday ended 235.44 points up at 31,449.03, and the National Stock Exchange Nifty gained 83.35 points to close at 9,794.15. The markets broke their five-session losing streak even though it was announced on Friday that India’s industrial output for June had declined by 0.1%, the first contraction in four years.
Weak inflation data from the United States, which made chances of a rate hike this year unlikely, lifted market sentiment globally. Cipla, Sun Pharmaceuticals, Tata Steel, Adani Ports and Hero MotoCorp were among the top gainers on both indices. TCS, Kotak Mahindra Bank and Bharti Airtel were the worst performers.
Other Asian markets had a mixed day in trading, still affected by the US-North Korea tensions. Japan’s Nikkei 225 and the Taiwan TSEC 50 Index lost heavily, but the Shanghai SE Composite Index and the Hong Kong Hang Seng traded in green. The Hong Kong Hang Seng rose by more than 280 points.
The Indian rupee was trading at 64.09 a dollar at 2.25 pm on Monday.