E-Paper
Sensex, Nifty trade higher led by financials; RIL helps too
HDFC Bank rose nearly 3% after reporting a healthy set of September quarter result. ONGC and ICICI Bank, along with Reliance Industries, were the other top gainers on Sensex.
Domestic equity markets were trading higher on Monday with the benchmark indices rising one per cent, led by gains in HDFC Bank, which reported better than expected numbers in the September quarter, as they tracked gains Asian indices. The S&P BSE Sensex was 0.97% higher at 40,372.09 and NSE Nifty 50 index was up 0.83% at 11,859.60.
HDFC Bank rose nearly 3% after reporting a healthy set of September quarter result. ONGC, ICICI Bank and HDFC, along with Reliance Industries, were the other top gainers on Sensex.
Asian stocks rose with US futures after Speaker of the House Nancy Pelosi set a Tuesday deadline for more progress with the White House on a fiscal stimulus deal before the November 3 presidential election. “We will be following the global cues from now till the U.S. elections unless a major local event happens. Locally, the expectations for the festive season’s demand and earnings season is also helping the sentiment,” Sameer Kalra, a strategist at Mumbai-based Target Investing, was quoted as saying by Bloomberg.
On Monday, 21 companies, including ACC, Britannia Industries, and HDFC Life, are set to report their quarterly earnings today.
In the opening trade, Sensex rallied over 300 points tracking strong gains in HDFC twins, ICICI Bank and Axis Bank amid positive cues from global markets. In the previous session, Sensex closed 254.57 points or 0.64% higher at 39,982.98 and Nifty settled 82.10 points or 0.70% up at 11,762.45.
Bourses in Hong Kong, Tokyo and Seoul were trading on a positive note in mid-session deals, while Shanghai was in the red after the release of China’s GDP numbers. China’s economic growth accelerated to 4.9% over a year earlier in the latest quarter as a shaky recovery from the coronavirus pandemic gathered strength.
