Sensex ends 155 points up over positive global cues
Expectations of robust Q3 corporate earning results beginning this week, coupled with positive global cues on easing USChina trade tensions along with a dovish US Fed comments, on Friday pushed Sensex and Nifty higher on Monday
Mumbai, Jan 7 : Expectations of robust Q3 corporate earning results beginning this week, coupled with positive global cues on easing US-China trade tensions along with a dovish US Fed comments, on Friday pushed Sensex and Nifty higher on Monday.
Talks between US and China are scheduled on Monday and Tuesday.
Mirroring global markets, Indian indices displayed strength following easing of Chinese monetary policy and dovish comments from US Fed, suggesting higher risk taking appetite, which pushed up the markets, said Essel Mutual Fund CIO Viral Berawala.
In addition, RBI Governor Shaktikanta Das on Monday said that RBI was constantly monitoring the liquidity situation of Non Banking Financial Co (NBFC) and that he will meet the NBFCs on Tuesday.
The S&P BSE Sensex settled 155.06 points or 0.43 per cent higher at 35,850.16 after touching an intra-day high of 36,076.95 and a low of 35,809.23.
The NSE Nifty50 closed at 49.25 points or 0.46 per cent up at 10,776.60.
While the oil and gas stocks inched up as the Brent Crude prices gained over 1 per cent. The realty sectors stocks gained on expectation that the GST council meeting scheduled on January 10 will end with a cut in the GST rates for the under-construction houses from 18 to 12 per cent.
In contrast, auto and healthcare sectors ended lower.
The Indian currency weakened by 14 paise around the closing bell to Rs 69.86 per dollar from its previous close of 69.72.