Sensex Zooms Over 1,300 Points, Nifty Above 18,000; HDFC Twins Shares Rise 16% On Merger Deal
In the broader markets, the BSE Midcap and Smallcap indices were in the positive territory, up to 1 per cent higher
New Delhi: The key equity benchmarks, Sensex and Nifty, on Monday traded higher in opening deals as HDFC Bank and HDFC announced merger amid mixed trends in Asian markets.
At 10.30 am, the 30-share BSE Sensex was up 1,372 points to 60,649, while the broader NSE Nifty was at 18,068, up 398 points.
As the news of the merger between HDFC and HDFC Bank was announced, the shares HDFC and HDFC Bank rose 16 per cent and 13 per cent, respectively, leading index’s gains.
ALSO READ | Mortgage Lender HDFC Announces Merger With HDFC Bank
They were followed by Bajaj Finance, Titan, Tech M, Asian Paints and HCL Tech. On the Nifty, HDFC Life and Divis Labs were the additional top gainers.
On the flip side, M&M, Infosys, Maruti, Eicher Motors, Axis Bank and ONGC were the top losers on the two benchmarks, down up to 1.5 per cent.
In the broader markets, the BSE Midcap and Smallcap indices were in the positive territory, up to 1 per cent higher.
13 out of the 15 sector gauges, compiled by NSE, were trading in the green. Nifty Bank and Nifty Financial Services were outperforming the index by rising as much as 1.76 per cent and 2.50 per cent, respectively.
Nifty Pharma, Consumer Durables and Oil & Gas were the other notable gainers. While, Nifty Auto was the sole loser.
On Friday, the Sensex surged 708 points (1.21 per cent) to close at 59,276 points. The Nifty climbed 205 points (1.18 per cent) to end the day at 17,670 points.
Meanwhile, Asian markets witnessed mixed trends, with Japanese benchmark Nikkei 225 marginally in the red, while Hong Kong's key Hang Seng and South Korea's Kospi indices were in the positive territory.
Apart from the RBI policy announcement, scheduled for April 8, the developments linked to the Russia-Ukraine war, crude oil movement, foreign fund flows as well as PMI data for manufacturing and services sectors are expected to influence investor sentiments.
The US markets closed with gains on Friday.
Last week, the Sensex surged 1,914.49 points or 3.33 per cent, while the Nifty gained 517.45 points or 3.01 per cent.
Meanwhile, international oil benchmark Brent crude surged 0.15 per cent to $104.55 per barrel.
Foreign portfolio investors pumped in little over Rs 1,909 crore in equities on Friday.
Trending News
Top Headlines
