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MARKET WRAP: Sensex up 155 pts, Nifty ends at 10,772 led by IT, realty stks

SI Reporter/New Delhi 07 Jan 19 | 08:10 AM

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The benchmark indices ended nearly 0.5 per cent higher on Monday led by a rise in information technology (IT) and realty stocks.

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The S&P BSE Sensex ended at 35,850, up 155 points or 0.43 per cent, while the broader Nifty50 index settled at 10,772, up 44 points or 0.41 per cent.

Among the sectoral indices, the Nifty IT rose 1.1 per cent led by MindTree, Infosys and Tata Consultancy Services (TCS). The Nifty Realty, too, rose 1.2 per cent led by Godrej Properties and Sobha.

Shares of real estate companies had rallied up to 20 per cent on the BSE in intra-day trade on hopes of cut in the goods and services tax (GST) rate for under-construction and finished houses to 5 per cent.

Among individual stocks,  Bandhan Bank and Gruh Finance fell around 5 per cent on the BSE amid reports of a merger between the two. According to media reports, Bandhan Bank and Housing Development Finance Corporation (HDFC)-controlled Gruh Finance are set to merge through a share swap deal. Bandhan Bank fell 5.2 per cent to end the day at Rs 501 on the BSE. The stock traded lower for the fourth straight day. Gruh Finance slipped 4.5 per cent to settle at Rs 304.

In the broader markets, the S&P BSE MidCap index settled at 15,152, up 5 points or 0.03 per cent while S&P BSE SmallCap index rose 9 points or 0.06 per cent to end at 14,601.

Global Markets

Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook. 

Shanghai blue chips rose 0.4 per cent, having already climbed over 2 per cent on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan put on 1.3 per cent. Japan’s Nikkei shot up 2.8 per cent, while South Korea added 1.2 per cent.

Oil Prices

Oil prices rose by more than 1.5 per cent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude.

Brent crude futures were at $58.04 per barrel, up 98 cents, or 1.7 per cent, from their last close. US West Texas Intermediate (WTI) crude oil futures were at $48.85 per barrel, up 89 cents, or 1.9 per cent.

(with Reuters input)

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Sensex

Company Price Gain (%)
Bajaj Fin.2,926.052.32
Power Grid Corpn196.752.29
Axis Bank751.952.21
Reliance Inds.1,347.601.89
Tata Steel524.651.77

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