Sensex, Nifty Snap 6-Day Losing Race; Bank, Advance on Financial Actions

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New Delhi: Sensex and Nifty, the two major equity benchmarks, ended in the green on Monday, snapping a six-day losing streak and following positive global signals and on the back of gains in banks, financials and equities energy.

The 30-stock BSE Sensex rose 180 points to end at 52,974, while the broader NSE Nifty settled at 15,842, up 60 points. The Sensex shot in a band of 786 points before settling at 180 points.

On the BSE platform, NTPC, Bajaj Finance, Maruti Suzuki, SBI, HDFC, Kotak Bank, M&M and IndusInd Bank were the top gainers, up 1.6% to 2.9%.

In contrast, Ultratech Cement, Asian Paints, ITC, TCS, HCL Tech, Nestlé and Dr Reddy’s Labs were the main losers, down 1-2.8%.

In the broader markets, BSE’s mid-cap and small-cap stocks ended on a strong note, with the Nifty Midcap 100 jumping 1.25% and small caps 1.12%.

On NSE, 10 of the sector’s 15 gauges moved into the positive zone. Sub-indices such as Nifty PSU Bank, Nifty Auto and Nifty Financial Services outperformed the index rising as much as 2.91%, 2.27% and 1.32%, respectively.

On specific stocks, shares of ACC and Ambuja Cements were in high demand after Gautam Adani’s group struck a deal to acquire a majority stake in Holcim’s Indian business for $10.5 billion.

ACC shares rose 3.7% to close at 2,192 rupees, while Ambuja Cements gained 2.59% to close at 368.10 rupees.

Vinod Nair, head of research at Geojit Financial Services, told PTI: “Weakness in global equities as well as unfavorable global signals led to heavy selling around closing time as investors lacked confidence to push ahead. their positions.”

On Friday, the BSE fell 136 points (0.26%) to end at 52,793, while the NSE Nifty fell 25 points (0.16%) to end at 15,782.

According to stock market data, continuing their selling spree, foreign institutional investors on Friday sold shares worth Rs 3,780.08 crore.

Meanwhile, in Asia, markets ended on a mixed note, with Hong Kong and Tokyo settling in the green, while Seoul and Shanghai were slightly lower.

Stock exchanges in Europe also traded on a mixed note in the afternoon session.

Stock markets in the United States finished with smart gains on Friday.

The global oil benchmark, Brent, fell 0.51% to $111 a barrel.

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