Nifty Logs Longest Stretch Of Gains In Over Two Months
Closing Bell: Nifty Logs Longest Stretch Of Gains In Over Two Months
India’s equity benchmark NSE Nifty 50 registered gains for the fourth consecutive trading session, its longest gaining streak since July 4.
The 50-stock index ended 0.52 percent higher to close above 11,000 for the first time since Aug. 30.
Besides, the S&P BSE Sensex ended 0.44 percent higher at 37,145.45. The broader markets represented by the NSE Nifty 500 Index ended 0.58 percent higher.
Going forward, Global macro-economic data points especially GDP and Inflation numbers are crucial in deciding the asset classes prices, while on the domestic front, amid slowdown concerns our inflation and production numbers will play very decisive role in determining the market’s direction.Karvy Stock Broking Research Report
Indian markets will remain shut on Tuesday on account of Muharram.
The market breadth was tilted in favour of buyers. About 1,167 stocks advanced and 608 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 1.6 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.72 percent.
Equity Inflows Up 12.8% In August, AMFI Says
AMFI August Data Highlights (Month-on-Month):
- Equity inflows up 12.8 percent to Rs 9,152.43 crore.
- Total MF industry flows up 17.7 percent to Rs 1.02 lakh crore.
- Equity AUM down 4 percent to Rs 6.79 lakh crore.
- Total MF industry AUM down 0.7 percent to Rs 25.63 lakh crore.
- Liquid fund flows up 75 percent to Rs 79,428.2 crore.
- Balanced fund category witnessed outflows of Rs 879.21 crore versus inflows of Rs 673.75 crore.
Market Check: Nifty Set For Its Longest Gaining Streak In Over Two Months
Indian equity benchmark NSE Nifty 50 is set for its longest stretch of gains in over two months.
The 50-stock index rose 0.48 percent to 10,998.15. The S&P BSE Sensex rose 0.44 percent to 37,145.12. The broader markets represented by the NSE Nifty 500 Index rose 0.54 percent.
Fab Four Stocks Of The Day
Larsen & Toubro
- Stock extended gains for the fourth consecutive trading session and rose as much as 2.5 percent to Rs 1,361.80.
- The company’s construction unit secured a residential project from Maharashtra’s Cidco to construct 23,432 dwelling units with on-site infrastructure works at various locations in Navi Mumbai
- The contract stands worth Rs 5,000-7,000 crore, according to the company’s order classification.
- Shares extended gains for the fourth consecutive trading session.
- The stock rose as much as 8.8 percent to hit an all-time high at Rs 1,575.
- The stock advanced 31 percent in four trading sessions.
- Stock rose as much as 8.7 percent to Rs 365.65.
- Fresh longs seen with high open interest of 26 percent.
Blue Dart Express
- Stock rose as much as 8.2 percent to Rs 2,411.95.
- Trading volume was 30 times its 20-day average.
Europe Market Check: Equities Gain
Stocks were steady in Europe after rising in Asia as traders weighed a series of fresh stimulus moves expected by the world’s central banks. U.S. equity-index futures climbed, while Treasuries and the dollar were little changed.
- The Stoxx Europe 600 Index increased 0.1 percent.
- Futures on the S&P 500 Index gained 0.2 percent.
- The U.K.’s FTSE 100 Index climbed 0.3 percent.
- The MSCI Emerging Market Index rose 0.3 percent to the highest in more than five weeks.
Get your daily fix of global markets here.
Market Check: Sensex, Nifty Off Day’s High
Indian equity benchmarks erased some of its gains to trade off day’s high.
The S&P BSE Sensex rose 0.36 percent to 37,11209 as of 2 p.m. and the NSE Nifty 50 rose 0.37 percent to 10,987.15. The broader markets represented by the NSE Nifty 500 rose 0.47 percent.
The market breadth was tilted in favour of buyers. About 1,121 stocks advanced and 598 shares declined on National Stock Exchange.