Indian indices extended their gains from the previous week and ended higher on Monday, tracking strong cues from the US and potential value buying at lower levels. Globally, shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. In Asia, shares rose in Japan, Australia, Hong Kong, Shanghai, and South Korea.
Sensex jumps 433 pts, Nifty ends above 15,800; IT, metal stocks shine
Indian indices on Friday closed higher, posting gains for the third straight day, with technology and metal stocks leading the gains, as easing oil prices tempered inflation fears.
The Sensex gained 457 points, or 0.82%, to close at 53,161.28, while Nifty50 jumped 132.80 points to end at 15,832.05. Sectorally, all the sectors ended in the green, with IT, metals, capital goods, telecom rising the most.
On the 30-stock index, L&T, TechM, HCL, and Infosys were the top performers, while Reliance and Kotak Bank were the top losers.
On the Nifty50 index, ONGC, Coal India, and L&T registered the biggest gains, while Eicher Motors and Apollo Hospitals were the biggest laggards.
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Nifty IT index surges 2%
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Nifty50 rises 0.87%; Coal India, ONGC, L&T top gainers
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Bajaj Auto announces ₹2,500 crore share buyback. Key details to know
Homegrown motorcycles and three-wheeler manufacturer’s board on Monday have approved share buyback of up to ₹2,500 crore at a price not exceeding ₹4,600 per share, via open market. Bajaj Auto shares were trading 0.7% higher at ₹3,840 apiece on the BSE in Monday’s afternoon deals.
Over a fourth of MSMEs lost more than 3% market share last fiscal: Crisil
More than a quarter of India’s micro, small and medium enterprises (MSMEs) lost over 3% market share due to the covid pandemic, while half of them saw their earnings before interest, tax, depreciation and amortisation (Ebitda) margins contract because of a sharp rise in commodity prices last fiscal compared with pre-pandemic (fiscal 2020) levels, a CRISIL Research’s SME Report 2022 said.
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Read More:Sensex rises 433 pts, Nifty ends above 15,800; TechM, HCL gain, metals
