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Stock markets today are expected to take cues from global market trends, with additional influence from stock-specific triggers
Stock Market Today Updates
Sensex Today: Indian equity benchmarks continued their winning streak for the fourth consecutive session on Monday, bolstered by positive global cues ahead of US-China trade discussions in London, encouraging US jobs data, progress in US-India trade negotiations, and robust measures by the Reserve Bank of India (RBI).
The Sensex rose to an intraday high of 82,669 before settling at 82,445.21, up 256.22 points or 0.31 per cent. Meanwhile, the Nifty50 ended at 25,103.20, gaining 100.15 points or 0.4 per cent.
In the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices climbed 1.13 per cent and 1.57 per cent, respectively.
Most sectoral indices closed higher, with Realty as the only sector to end in the red. The Nifty PSU Bank index was the top performer, gaining 1.52 per cent, driven by strong performances from Bank of India, Maharashtra Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Canara Bank, Punjab and Sind Bank, and Union Bank of India. Other notable gainers included Nifty Oil & Gas, Private Banks, IT, and Energy, all of which rose over 1 per cent.
Within the Sensex pack, 23 of the 30 constituent stocks advanced, led by Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Bajaj Finserv, IndusInd Bank, Maruti Suzuki, Power Grid, NTPC, and TCS, which posted gains of up to 3.2 per cent. In contrast, stocks such as Eternal, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel, and Bharti Airtel ended in the red.
Meanwhile, the market’s fear gauge, the India VIX, edged up 0.43 per cent to close at 14.69, indicating a slight uptick in market volatility.
Global Cues
Asian markets were trading in the green on Monday as investors looked ahead to trade talks between Washington and Beijing scheduled for later in the day.
Japan’s Nikkei 225 was up 0.95 per cent, while South Korea’s Kospi rose 1.73 per cent. Australian markets are closed today for a public holiday.
On the economic data front, Japan’s GDP for the January-March quarter showed the economy contracted at a slower pace than earlier estimates. GDP shrank at an annualised rate of 0.2 per cent, compared to an initial estimate of a 0.7 per cent contraction.
Meanwhile, China will report its consumer and wholesale inflation data for May today. According to a Reuters poll, China’s consumer prices are expected to have declined 0.2 per cent year-on-year, while the producer price index is projected to have fallen by 3.2 per cent from a year ago.
In the US, major indices closed higher last Friday as stronger-than-expected non-farm payroll data eased concerns of an economic slowdown. US payrolls rose by 139,000 in May, surpassing the Dow Jones estimate of 125,000.
The Dow Jones Industrial Average gained 1.05 per cent, the S&P 500 added 1.03 per cent, and the Nasdaq Composite rose 1.20 per cent.
In the commodities market, gold prices declined by more than 1 per cent on Friday following the upbeat US jobs report. Spot gold was down 1.1 per cent at $3,316.13 an ounce, while US gold futures fell 0.8 per cent to $3,346.60.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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