Sensex Jump 300 Points Tracking Asian Peers, Nifty Hovers At 10,723 Level, Banking Stocks Emerge Top Gainers

Domestic equity markets continued its rally for the third straight day to end near four-month highs on Friday, supported by Reliance Industries as it announced another stake sale in its digital unit.

(File Photo/ Getty)

New Delhi: Domestic benchmark indices opened strong on Monday in line with gains in the global markets as the Sensex jumped 300 points higher at 36,313.46, while Nifty edged 116 points higher at 10,723.85. IndusInd Bank surged more than 3 percent, HDFC Bank was up 2.76 per cent. Both banking stocks emerged top Sensex gainers. ITC and Bajaj Finance also surged 1 per cent.   Hindustan Unilever Ltd remained top Sensex laggards. HDFC Bank reported 21 per cent growth in its advances which totalled ₹10.04 lakh crore on June 30 as compared to ₹8.29 lakh crore a year ago and ₹9.93 lakh crore on March 31. IndusInd Bank's net advances jumped 4 per cent y-o-y to ₹2 lakh crore as on 30 June, while the deposits grew by 6 per cent to ₹2.11 lakh crore. Domestic markets continued its rally for the third straight day to end near four-month highs on Friday, supported by Reliance Industries as it announced another stake sale in its digital unit. The stock reached a high of 36,110.21on the 30-stock benchmark Sensex to end 177.72 points, or 0.50 per cent, higher at 36,021.42. The NSE Nifty rose 55.65 points, or 0.53%, to end at 10,607.35. This is the highest closing for both the benchmarks since March 6. On the result front, around 35 companies including NBCC are scheduled to announce their March quarter results on Monday. Rupee update Rupee opens higher at 74.52/$ vs Friday's close of 74.66 against the US dollar Asian Market Asian stocks zoomed past to scale four-month peaks on Monday as investors bank on liquidity measures and fiscal stimulus to support the battered economy globally as rising coronavirus cases disrupted re-openings across the United States. MSCI's broadest index of Asia-Pacific shares outside Japan jumped 1 per cent to its highest since February. Australia's ASX All Ordinaries advanced 0.12 per cent while China's Shanghai SE Composite Index inched 3.35 per cent higher. Hong Kong's Hang Seng climbed 2.28 per cent and  Singapore's SGX Nifty added 1 per cent, according to business daily Mint. Meanwhile, Wall Street ended higher on Thursday as the markets remained closed due to holiday supported by the positive data which showed a rise in employment.