Sensex gains over 150 points, Nifty above 10350, ICICI Bank biggest laggard

Sensex rises 161 points to 33,788 Nifty at 10,379 on positive global cues

Sensex gains over 150 points, Nifty above 10350, ICICI Bank biggest laggard

The markets have been buoyant since mid-last week as global cues gained strength and the RBI predicted inflation to cool and growth rate to consolidate in FY19. "PSU banks and pharma stocks outperformed due to gradual accumulation and US FDA approvals", said Vinod Nair, Head of Research, Geojit Financial Services.

Among the top gainers were Kotak Mahindra Bank with 1.22 per cent gains while Bharti Airtel and ICICI Bank were the top losers.

Consumer durables (1.70%), oil and gas (1.52%), and banking stocks (0.90%) rose the most among sectoral indexes on BSE. Infosys will kick off the earnings season on Friday when the IT company announces its fourth quarter results. Lemon Tree Hotels shares soared 29 percent on market debut, compared to the initial public offering price of Rs 56 a share.

Facebook alerts users affected by Cambridge Analytica scandal
It says it received data on 30 million users but never used that information in the 2016 campaign. People will also be able to remove apps that they no longer want.

Market breadth was positive with 1,654 stocks closing higher against 1069 ending in the red on BSE.

The Dalal Street may open in green on Monday trading session, following global cues as Asian shares edged higher in early opening, on the back of a bounce witnessed in USA stock futures which soothed sentiment despite ongoing trade war between US President Donald Trump with China.

Among other Asian markets, Japan's Nikkei was up 0.06% while Hong Kong's Hang Seng index rose 0.97%. Benchmarks in New Zealand, Taiwan and Southeast Asia also advanced. Caterpillar, a construction equipment maker, slid 3.5 percent and aircraft manufacturer Boeing lost 3.1 percent.

Novartis to buy US gene therapy group AveXis for US$8.7b
The transaction was unanimously approved by the boards of both companies, according to a statement Monday. The acquisition of AveXis would give Novartis a broader stake in the evolving field of gene therapy.

The US Dow Jones Industrial Average, however, ended 2.34% down in Friday's trade after Donald Trump warned of tariffs on an additional $100 billion worth of Chinese imports.

Back home, oil retailers HPCL, BPCL and International Olympic Committee rallied more than 3 percent on steady crude oil prices while Titan Company was up 2 percent after analysts see strong Q4 growth in jewellery and watch segments.

Zee Entertainment fell over 2 percent that pushed the Nifty Media index down by 1 percent.

China Mobile (NYSE:CHL) Sees Significant Increase in Short Interest
Axa accumulated 16,292 shares. 138,100 are held by Summit Secs Group Incorporated Limited Liability Corporation. Gradient Invests Ltd Liability Company owns 0% invested in Core Laboratories N.V. (NYSE:CLB) for 14 shares.

Latest News