Indian benchmarks end higher on Monday, Nifty crosses 10000 after Aug 7

Ebony Scott
September 11, 2017

Asian markets ended higher after North Korean dictator Kim Jong Un chose to hold a party over the weekend rather than launch another missile test on its founding day. On the Nifty, shares of Bharti Infratel, Sun Pharma, Vedanta, Bharti Airtel and Indiabulls Housing Finance performed the worst.

"Markets across the globe took a breather from the recent sell-off and traded in positive territory today".

Most regional indices ended higher on Monday, as risk sentiment improved after North Korea didn't test a ballistic missile to commemorate its Foundation Day on Saturday as many had feared.

South Korea's main index added 0.8 percent, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent.

Auto stocks Maruti Suzuki (up 2.41 per cent), Motherson Sumi (up 1.46 per cent), Bharat Forge (up 1.37 per cent) and MRF (up 1.18 per cent) among others, aided gains.

Among BSE sectoral indices, capital goods index was the star-performer and was up 2.05 per cent, followed by oil & gas 1.05 per cent, infrastructure 0.77 per cent and auto 0.73 per cent.

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IndusInd Bank soared to trade at a record high of Rs 1,802 per share on NSE.

India's retail inflation is expected to have picked up to a five-month high of 3.20 percent in August, largely driven by higher food costs, a Reuters poll showed on Monday, potentially reducing the scope of further rate cuts by the Reserve Bank of India (RBI).

Sensex heavyweight Larsen and Toubro was the topper, surging 3.80 per cent to close at an over 2-year high of Rs 1,216.90.

The Nifty50 provisionally closed at 10,006.05 points - up 71.25 points or 0.72 per cent.

In Europe, STOXX 600 gained 0.6 per cent, Reuters reported.

Other reports by GizPress

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