‘Markets regained strength tracking the less hawkish tone of the U.S. Fed in recent meeting minutes. On the domestic front, early onset zof monsoon has further lifted sentiment’
‘Markets regained strength tracking the less hawkish tone of the U.S. Fed in recent meeting minutes. On the domestic front, early onset zof monsoon has further lifted sentiment’
Key benchmark stock indices on Monday gained 1.9% following a rebound in buying, primarily in auto and IT stocks.
The S&P BSE Sensex surged 1,041 points or 1.9% to 55,925.74.
Top Sensex gainers included Titan (4.94%), M&M (4.69%), Infosys (3.77%), Tech Mahindra (3.59%), HCL Tech (3.57%) and TCS (3.47%).
The NSE Nifty50 index too gained 309 points or 1.89% to 16,661.40.
“Markets ended the 3-week long consolidation phase and gained over 2%, tracking firm global cues,” said Ajit Mishra, vice-president, Research, Religare Broking. “Almost all sectoral indices contributed to the move. The broader markets too witnessed healthy traction wherein midcap and smallcap ended higher by more than 2% each.”
“Markets have regained some strength citing the less hawkish tone of the U.S. Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues,” he added.
