Share markets on Monday: Nineteen out of 30 Sensex stocks were trading in the red in morning session.Domestic stock markets started the week on a choppy note despite sharp gains in global markets.
BSE benchmark index Sensex jumped as much as 240 points to touch 36,467.61 while the broader NSE Nifty climbed 56 points to hit 10,986.65 in late afternoon trade.
The stock markets started the session lower note but reversed the losses on the back of buying in IT, metal and PSU banking stocks.At 2:45 pm, the SP BSE Sensex traded 216 points, or 0.6 per cent, higher at 36,455.85 while the broader NSENifty50 was up 53.55, or 0.5 per cent, at 10,984.00.The benchmark indices swung between gains and losses during Monday' session.
The Sensex traded in a range of36,467.61-35,960.65, while the Nifty moved between10,963.10 and10,821.55.That meant a swing of 506.96 points for the 30-scrip BSE benchmark index and141.55 points for the Nifty.Caution prevailed after the Reserve Bank of India announced measures to curb liquidity concerns, according to analysts.The central bank said it would pump Rs36,000 croreinto the money markets in October in its latest attempt to stem fears of a cascading credit crunch.Twenty out of 30 Sensex stocks were trading with gains in afternoon.
Yes Bank was the top percentage gainer on both the indices.
Prominent gainers in the 30-share Sensex pack were Yes Bank (up 6.6 per cent), TCS (up 3 per cent), ICICI Bank (up 2.6 per cent) and Tata Motors (up 2.5 per cent).
Top advancers on the 50-share Nifty pack included Hindalco Industries (up 5.4 per cent), Indiabulls Housing Finance (up 5.1 per cent) and HDFC (up 2.7 per cent).The Nifty IT and PSU banks indices gained on the National Stock Exchange (NSE).Shares of Bandhan Bank Ltd plummeted to their lowest since the lender's market debut in March, after the RBI withdrew permission to open new branches and froze its chief executive's remuneration at the current level until further notice.Globally, the Canadian dollar and the Mexican peso rose and Japanese shares hit 27-year highs on Monday after the United States and Canada reached a framework deal to update the North American Free Trade Agreement.
Oil prices gained, with international benchmark Brent hitting a four-year high, as US sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.The Reserve Bank of India (RBI)'s monetary policy review along with release of key macro data points and concerns regarding the stability of the NBFC segment scheduled later in the week will influence the trends on key equity indices during this week.Meanwhile, domestic stock markets hadclosed lower on Friday, with the Sensex losing 97.03 points and the Nifty50 dropping 47.10 points.
That marked the lowest closing levels recorded for both the indices since July 9.(With inputs from agencies)