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Sensex trades over 35,000, Nifty above 10,700, IT, banks rise

Sensex trades over 35,000, Nifty above 10,700, IT, banks rise
Highlights

Indian equity benchmark BSE Sensex reclaimed the 35,000-mark, while the NSE Nifty went past 10,700 on Monday, on sustained buying driven by strong corporate earnings and positive global cues.

The BSE Sensex crossed the 35,000-mark by surging 211.90 points or 0.61% to trade at 35,181.60 points.The gauge had rallied 468.43 points in the previous two sessions.

Indian equity benchmark BSE Sensex reclaimed the 35,000-mark, while the NSE Nifty went past 10,700 on Monday, on sustained buying driven by strong corporate earnings and positive global cues.

The 30-share BSE gauge again crossed the 35,000-mark by surging 211.90 points or 0.61% to trade at 35,181.60 points.The gauge had rallied 468.43 points in the previous two sessions.

All the sectoral indices, led by IT, banking and Teck, were trading in the positive zone with gains up to 1.89%.

Following a similar trend, the NSE Nifty reclaimed the 10,700-mark by climbing 57.50 points or 0.54% to 10,749.80 .Prominent gainers include SBI,Yes Bank, TCS, M&M, HDFC,and Wipro, rising up to 2.37%

Shares of Reliance Industries, however, fell 2.59% after it announced plans to shut oil and gas production at its main fields in KG-D6 block in the coming months and begin complying with the government’s guidelines for decommissioning facilities in the Bay of Bengal block where output has hit its lowest ever.

The company on Friday reported a 17.3% jump in its fourth quarter net profit on the back of robust petrochemicals margins and telecom arm Jio’s maiden profits.

Axis Bank shares fell over 3% on weak earnings declared last week, making it the biggest loser on BSE Sensex.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 633.71 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 759.21 crore on Friday, provisional data showed.

Among other Asian markets, Hong Kong’s Hang Seng was up 1.56%. Financial markets in Japan and China were shut today for public holidays.

The US Dow Jones Industrial Average ended 0.05% lower in Friday’s trade.

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