Nifty settles above 11,000 mark, banking stocks gain

ANI
09 Sep 2019, 16:48 GMT+10

Mumbai (Maharashtra) [India], Sept 9 (ANI): Equity benchmark indices traded in the green on Monday amid positive gains in global markets and an uptick in banking and financial stocks.

The BSE SP Sensex closed 164 points or 0.4 per cent higher at 37,145 while the Nifty 50 moved up by 57 points to 11,003. All sectoral indices at the National Stock Exchange (NSE) were in the green except for Nifty IT, which slipped by 0.7 per cent.

Nifty PSU bank gained 1.6 per cent, private bank by 0.9 per cent, auto by 0.8 per cent and financial service by 0.8 per cent.

Among stocks, Yes Bank gained by 4.3 per cent to close at Rs 63 per share while Kotak Mahindra Bank was up by 2 per cent. State Bank of India closed 1.4 per cent higher at Rs 277.90 per share. Bajaj Finserve and Bajaj Finance closed 1.7 and 1.6 per cent higher respectively.

Deewan Housing Finance Ltd rallied 5.2 per cent after DSP Mutual Fund said it has paid the entire pending amount. The mutual fund had exposure of Rs 150 crore to DHFL commercial papers.

Agro-chemical major UPL gained by 3.8 per cent while auto major Maruti was up by 2.7 per cent, LarsenToubro by 2.4 per cent, Bharti Airtel by 2.2 per cent and Titan by 1.7 per cent.

However, IT stocks were down with HCL Tech sliding by 1.4 per cent, Infosys by 1.2 per cent, Tech Mahindra by 1 per cent and Tata Consultancy Services by 0.6 per cent.

The other prominent losers were Eicher Motors, Bajaj Auto, Tata Steel, Indiabulls Housing Finance and Vedanta.

Meanwhile, Asian stocks moved up amid a cautious mood as investors hoped for stimulus to support growth in the world's major economies.

The MSCI's broadest index of Asia Pacific shares outside Japan added 0.1 per cent. The Shanghai Composite Index was up by 0.8 per cent, South Korea's KOSPI rose by 0.5 per cent and Japan's Nikkei was up by 0.5 per cent. (ANI)