Sensex Surges 471 Points: Markets Continue to Climb - PTI
By Rediff Money Desk, MUMBAI Nov 06, 2023 09:48
Indian equity benchmarks rallied for the third straight session, with the Sensex gaining 471 points in early trade. Global markets and a decline in US bond yields are driving the uptrend.
![Sensex Surges 471 Points: Markets Continue to Climb - PTI](https://im.rediff.com/money/2014/feb/27market1.jpg)
Photograph: Amit Dave/Reuters
Mumbai, Nov 6 (PTI) Equity benchmark indices continued to rally for the third straight session on Monday amid favourable trends in global markets.
The 30-share BSE Sensex jumped 471.45 points to 64,835.23 points in early trade. The Nifty climbed 126.75 points to 19,357.35 points.
Among the Sensex firms, Larsen & Toubro, Axis Bank, Nestle, JSW Steel, IndusInd Bank and Mahindra & Mahindra were the biggest gainers.
State Bank of India and Tata Motors were the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the green.
The US markets ended in the positive territory on Friday.
"The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict. The sharp decline in the US 10-year bond yield from the October high of 5 per cent to 4.58 per cent now is the strongest tailwind for the market," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global oil benchmark Brent crude climbed 0.37 per cent to USD 85.20 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 12.43 crore on Friday, according to exchange data.
On Friday, the BSE benchmark climbed 282.88 points or 0.44 per cent to settle at 64,363.78 points while the Nifty rose 97.35 points or 0.51 per cent to 19,230.60 points.
The 30-share BSE Sensex jumped 471.45 points to 64,835.23 points in early trade. The Nifty climbed 126.75 points to 19,357.35 points.
Among the Sensex firms, Larsen & Toubro, Axis Bank, Nestle, JSW Steel, IndusInd Bank and Mahindra & Mahindra were the biggest gainers.
State Bank of India and Tata Motors were the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the green.
The US markets ended in the positive territory on Friday.
"The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict. The sharp decline in the US 10-year bond yield from the October high of 5 per cent to 4.58 per cent now is the strongest tailwind for the market," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global oil benchmark Brent crude climbed 0.37 per cent to USD 85.20 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 12.43 crore on Friday, according to exchange data.
On Friday, the BSE benchmark climbed 282.88 points or 0.44 per cent to settle at 64,363.78 points while the Nifty rose 97.35 points or 0.51 per cent to 19,230.60 points.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Ripley & Co to...](https://im.rediff.com/80-80/money/2024/jan/29port.jpg)
Ripley & Co to Modernize Haldia Berth with Rs...
Ripley & Co and Bothra Shipping Services will invest Rs 600 crore to automate and...
![India To Set Up...](https://im.rediff.com/80-80/money/2020/sep/15business-2.jpg)
India To Set Up Centre For Trade Negotiation...
India's Commerce Ministry plans to establish a centre for negotiation skills to...
![SBI 444-Day Term...](https://im.rediff.com/80-80/money/2017/aug/01bank.jpg)
SBI 444-Day Term Deposit: Up to 7.25% Annual...
State Bank of India launches a 444-day term deposit offering up to 7.25% annual...