Sensex, Nifty push higher for 5th day as RIL stands tall

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Led by gains in RILNSE 4.50 % and IT giant Infosys, key benchmark indices rose over half a percent each on Monday. 

This was the fifth consecutive session of gains for Indian stocks. After opening on a subdued note, the markets rose steadily on strong December quarter results from some of the index large caps. 

Positive Asian markets added to risk-on behaviour, which rose on hopes of a stimulus from the Chinese government to support economic growth. China's growth slowed to a 2 8-year low in 2018 in the wake of lingering trade war with the US and slowing exports. 


The BSE Sensex shut shop at 36,579, up 192 points or 0.53 per cent, with nine stocks in the green and 21 in the red. However, the upside was led by a handful of stocks, signalling underlying bearishness in markets. 

Meanwhile, the NSE Nifty took out the crucial 10,950-mark that posed as a stiff resistance. The 50-share pack settled at 10,962, up 54.90 points or 0.50 per cent. A total of 17 stocks gained while 33 declined in the Nifty space. 

RIL topped the Sensex gainers list, rising 4.30 per cent following better-than-expected December quarterly numbers. 

Kotak Mahindra Bank was next on the list, whose standalone profit rose 23 per cent YoY to Rs 1,291 crore. The scrip jumped out of the red zone and settled 2.42 per cent higher. 

Auto stocks were among the worst hit. 

BSE Energy stood tall, powered by the RIL show. IT stocks made merry as the rupee weakened. The BSE IT rose 0.64 per cent. 

Both midcap and smallcap indices underperformed the Sensex, down 0.56 per cent and 0.70 per cent, respectively. 


Source : https://economictimes.indiatimes.com/

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