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MARKET WRAP: Sensex surges 292 pts, Nifty tops 11,850; Adani Power up 17%

SI Reporter/New Delhi 01 Jul 19 | 07:52 AM

Domestic indices ended at a three-week closing high on Monday tracking positive global sentiment stemmed from trade truce between the US and China. Heavy buying was witnessed across finanicals, banking, automobiles and realty stocks.

The S&P BSE Sensex ended 292 points, or 0.74 per cent, higher at 39,686 levels with Tata Motors, Bajaj Auto and HDFC being the top gainers. The broader Nifty50 too ended the session with gains of 77 points, or 0.65 per cent, at 11,866 levels.

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In the broader market, S&P BSE Mid-Cap ended 81 points, or 0.54 per cent higher at 14,889 levels while the S&P BSE Small-Cap gained 43 points, or 0.30 per cent, to settle at 14,283 levels. 

Sectorally, realty led the rally with a gain of over 2 per cent. This was followed by gain in automobiles, pharma and bank counters, which rose about a per cent each.  

BUZZING STOCK

Eveready Industries shares were locked in the 5 per cent lower circuit at Rs 76 on the BSE on Monday after Price Waterhouse & Co Chartered Accountants LLP (PwC) quit as company's auditors on Friday due to their "inability" to obtain sufficient audit evidence of inter-company deposits and its recovery. READ MORE

Shares of Reliance Infrastructure (RInfa) slipped 10 per cent to Rs 50 in early morning trade on the BSE on Monday after rating agency Brickwork downgraded the company’s bank loan facilities of Rs 1,151 crore to 'BWR D' from 'BWR C'. READ MORE

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GLOBAL CUES

Asian markets ended hugher on Monday after the US and China decided to resume trade talks on Saturday. Japan's Nikkei settled with a gain of 2.13 per cent while Sout Korea's Kospi slipped marginally by 0.04 per cent.

Oil prices rose more than $1 a barrel with OPEC and its allies on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.

(With inputs from Reuters)

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Sensex

Company Price Gain (%)
Infosys779.457.20
Sun Pharma.Inds.422.403.61
Maruti Suzuki6,079.751.81
TCS2,145.201.77
Kotak Mah. Bank1,507.751.58

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