INSUBCONTINENT EXCLUSIVE:
Heavyweights SBI and ICICI Bank - rising more than 3 per cent each - pushed the 50-scrip Nifty higherDomestic stock markets extended gains
to a second straight session, with the BSE Sensex closing 135 points higher on Monday
Banking and financial stocks led advances in the markets while HDFC Asset Management Company shares registered a strong market debut
BSE benchmark index Sensex closed at 37,691 while the NSE Nifty settled 26 points, or 0.23 per cent, higher at 11,387, marking fresh record
Monday's trading session:1
Top gainers on the 50-scrip index were State Bank of India (SBI), Axis Bank and ICICI Bank, ending between 3.1 per cent and 3.7 per cent
provided further supported to the broader markets, with the Nifty Metal also closing 0.7 per cent higher
Hindalco Industries, Jindal Steel, Hindustan Zinc and APL Apollo Tubes - finishing between 1 per cent and 5.6 per cent - led the advances on
Hopes of healthy monsoon rains supported views that rural demand was expected to rise in the coming months, according to analysts.Weather
office IMD or India Meteorological Department had last week forecast average rainfall during the final two months of the crucial monsoon
We may see some consolidation in Nifty around the current level prior to further rise progress of monsoon and global cues will also be
closely watched," said Jayant Manglik, president, Religare Broking.7
Midcap and smallcap shares also registered mild gains
The Nifty Midcap 50 closed 0.2 per cent higher, led by IDFC, SRF, Muthoot Finance and Reliance Infra, rising around 3-6 per cent
following an initial public offering of Rs 2,800 crore.9
Indian equities also took support from mild gains in other Asian peers
capital flight supported sentiment in the region
However, escalating Sino-US trade conflict capped gains.10
