Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Banks boost Sensex, Nifty; IT stocks cap gains

In the 30-pack Sensex, stocks belonging to the IT sector were the top Sensex drags.

, ETMarkets.com|
Sep 09, 2019, 04.08 PM IST
0Comments
Getty Images
Rise-gain-grow----Getty
Maruti Suzuki, L&T, Bharti Airtel, Kotak Mahindra Bank and Bajaj Finance were among other stocks that formed the gainer pack among Sensex stocks.
NEW DELHI: Led by gains in financial stocks, the domestic stock market ended on a firm note on Monday, ahead of market holiday on account of Muharram. The positive global market environment too worked in favour of investors back home.

BSE benchmark Sensex settled at 37,145, up 164 points or 0.44 per cent while NSE Nifty ended 57 points or 0.52 per cent higher at 11,003.

European markets opened higher after data showed a surprise rise in German exports and on expectations of stimulus by European Central Bank later this week. The pan-European STOXX 600 index was up 0.1 per cent.

The BSE advance-decline ratio stood at 5:3, meaning a rise in every five stocks was followed by a fall in three stocks.

In the 30-pack Sensex, stocks belonging to the IT sector, namely HCL Tech, Infosys and TCS were the top Sensex drags.

HCL Tech shares declined the most, down 1.50 per cent. Infosys, Bajaj Auto, Tata Steel and Tech Mahindra were other losers.

YES Bank, on the other hand, was the best performing Sensex stock, rising as much as 4.22 per cent.

Maruti Suzuki, L&T, Bharti Airtel, Kotak Mahindra Bank and Bajaj Finance were among other stocks that formed the gainer pack among Sensex stocks.

Among the main board stocks, shares of Equitas Holdings fell 6.55 per cent after the RBI barred the company's wholly-owned subsidiary Equitas Small Finance Bank from opening new branches.

Shares of Ashok Leyland ended 1.56 per cent lower after the company announced non-working days at its various manufacturing facilities following weak demand. Chennai-based heavy commercial vehicle major has announced 16 days non-working days for its facility in Ennore, five days at Hosur (Tamil Nadu) unit, 10 days each in Alwar (Rajasthan) and Bhandara (Maharashtra) unit and 18 days in Pantnagar (Uttarakhand) facilities.

Midcap and smallcap indices outperformed benchmark Sensex. The BSE Midcap index rose 0.97 per cent while BSE Smallcap index 0.92 per cent.

Telecom and Capital Goods indices with gains of 1.75 per cent and 1.74 per cent, respectively were the top sectoral performers. Consumer Durables and Industrials too gained over 1 per cent.

IT and teck were the only sectors that ended in the red, down 0.81 per cent and 0.53 per cent, respectively.

Also Read

Four factors behind Sensex's 428 point rally

YES Bank shares fall 2% on Sensex rejig

Sensex, Nifty trade lower; Infosys slips 3%

Why is Sensex rallying despite poor health of the economy?

Sensex, Nifty open with gains; Infosys plunges

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service