Market update: Sensex up around 300 pts, Nifty hovering near 18150 - Nifty Bank hits new high for 3rd day
The Indian markets during Monday’s session snapped a 4-days losing streak and have been trading in the green. The benchmark indices Sensex has reclaimed the 61000-mark and Nifty hovering around 18150 levels intraday today. services stocks.
The Indian markets during Monday’s session snapped a 4-days losing streak and have been trading in the green. The benchmark indices Sensex has reclaimed the 61000-mark and Nifty hovering around 18150 levels intraday today. The surge has mainly come from banking and financial services stocks.
At around 01:16 pm, the BSE Sensex is trading 262 points or 0.43 per cent higher to 61083.7, while Nifty50 up 34.65 points or 0.19 per cent to 18149.55 intraday today. Similarly, mid and small-cap indices are trading weak with the former down 1.35 per cent and the latter 1.84 per cent intraday.
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Nifty Bank has been on roll with hitting a new for the third straight session on Monday, the index is up 1248.75 points or 3.1 per cent to 41,572.4 at the time of writing this story, led by ICICI Bank on the back of strong earnings. Nifty Bank for the first time has breached 41800-level on the NSE.
As many as 11 stocks have been advancing and 39 are on a declining trend on Monday intraday. Private lender stocks such as ICICI Bank gained around 13 per cent, while Axis Bank up near 5 per cent at around 1:25 pm, followed up ONGC up over 2 per cent on the NSE.rd
While other stocks such as SBI, Cipla, M&M, and L&T are each up between 0.3-2 per cent intraday trade on the NSE.
On the contrary, IT stocks continue to drag the market, as HCL Tech became the top loser, down 2.4 per cent intraday, followed by Bajaj Finserv, Divis Lab, Asian Paints, Wipro, Bajaj Auto each down over 2 per cent intraday today.
Similarly, Auto stocks such as Maruti, Eicher Motors along with Hero Moto, UPL, Power Grid, Nestle India, Tata Motors, Britannia, SBI Life and BPCL each down between 1.5-2 per cent intraday today.
Sectorally, the majority of the indices are in the green intraday, in which Nifty Bank surged most as Pvt Bank index and PSU Bank Index both up over 3 per cent, while Nifty Financial Service up near 2 per cent. On the other hand, Nifty Auto, FMCG, IT, Pharma and Realty are weak intraday today.
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