Equity Indices In The Green, Nifty Bank Hits Fresh Record High
The BSE S&P Sensex was up by 71 points to 41,646 while the Nifty 50 edged higher by 20 points at 12,266.
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Equity benchmark indices were in the positive terrain during early hours on Monday tracking their Asian peers with easing of trade war worries and reduced uncertainty over the Brexit.
At 10:15 am, the BSE S&P Sensex was up by 71 points to 41,646 while the Nifty 50 edged higher by 20 points at 12,266. Apart from Nifty metal and PSU bank, all sectoral indices at the National Stock Exchange were in the green. Nifty bank rose by 0.47 per cent to a fresh record high while Nifty auto ticked up by 0.63 per cent and FMCG by 0.5 per cent.
Among stocks, Mahindra & Mahindra rose by 1.2 per cent to Rs 536.75 per share while Power Grid Corporation moved up by 1.1 per cent and ITC by 1 per cent. Kotak Mahindra Bank, HDFC Bank and IndusInd Bank were up by 1 per cent, 0.8 per cent and 0.7 per cent respectively.
The other prominent gainers were Eicher Motors, Tata Motors, GAIL and Tata Consultancy Services.
However, Reliance Industries, Coal India, State Bank of India and Titan were in the negative terrain.
Meanwhile, a broad gauge of Asian share markets rose to the highest in 18 months as Chinese equities gained. MSCI's broadest index of Asia Pacific shares outside Japan was last up by 0.2 per cent.
Chinese blue chips, which had started the day lower, were up by 1.24 per cent at the midday break. Japan's Nikkei stock index slid by 0.58 per cent.
Easing trade war worries and reduced uncertainty over Britain's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month.