INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic equity market logged gains on Monday, extending rally to a second consecutive session, owing to healthy buying in select
bank, auto, metal and energy stocks, amid mixed global cues
Equity benchmarks Sensex and Nifty registered impressive openings, as both hit their fresh record highs of 37,805 and 11,428, respectively,
propelled by decent gains in heavyweights, including ICICI Bank, Reliance Industries, Axis Bank and State Bank of India.
However, market
cooled off subsequently, though still trading in the green zone, on losses in Kotak Mahindra Bank, Hindustan Unilever, ITC , HDFC Bank and
Infosys.
Still, both key indices closed the day at fresh record peaks of 37,692 and 11,387, respectively.
The 30-share Sensex climbed 136
points or 0.36 per cent, settling with 14 gainers, whereas Nifty finished 26 points, or 0.23 per cent, up with 22 stocks in the
green.
Broader BSE Midcap inched up by 0.26 per cent and smallcap index climbed 0.39 per cent
Axis Bank, surging nearly 4 per cent, emerged as the top gainer among the Sensex scrips
It was followed by ICICI Bank, State Bank of India and Bharti Airtel, each jumping over 3 per cent.
HDFC Asset Management Company (HDFC AMC)
on Monday made a strong market debut on the bourses, as the scrip got listed at Rs 1,739, a 58.09 per cent premium to its issue price of Rs
The scrip eventually closed the day at Rs 1,815, with a stupendous gain of 65 per cent over the issue price
The Rs 2,800-crore initial public offering (IPO) was sold between July 25 and 27, and was subscribed 83 times
Sun Pharma declined 1.58 per cent on reports that the US arm of the firm is recalling over 5.2 thousand units of testosterone cypionate
injections from the American market.
Most pharma, IT and FMCG counters failed to perform today, making the sectoral indices end the day in
Bank, telecom and metal stood as the top gainers among the sectoral indices on BSE.
Global stocks were mixed in the light of a lingering
trade war worries between the US and China
Shanghai SE Composite Index cracked over 1 per cent, however, European markets were trading with small gains.
