Indian equity benchmarks extended gains during the afternoon session on Monday led by increased buying mainly in the realty and metal sector stocks amid positive cues from fellow Asian peers as investors awaited the minutes of the US Fed meeting this week for possible insight into how members see Trump’s polices.
At 1:17 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,561.95 up by 93.2 points or 0.33 per cent while the NSE Nifty was at 8,849.3 up by 27.6 points or 0.31 per cent.
Meanwhile, caution prevailed ahead of the February month F&O derivatives contract expiry on Thursday.
Further, shares of Tata Steel grew nearly 2.79 per cent amid hopes of higher production in FY2017-18, backed by an expected revival in consumption.
The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 481.00,+2.79%), GAIL (India) Ltd. (Rs. 521.80,+2.36%), Power Grid Corporation of India Ltd. (Rs. 206.00,+1.75%), Tata Consultancy Services Ltd. (Rs. 2448.00,+1.65%), Asian Paints Ltd. (Rs. 976.80,+1.65%), among others.
Major show spoilers were ITC Ltd. (Rs. 265.80,-0.91%), Axis Bank Ltd. (Rs. 485.80,-0.65%), Housing Development Finance Corporation Ltd. (Rs. 1395.75,-0.45%), Dr. Reddy’s Laboratories Ltd. (Rs. 2902.50,-0.44%), Mahindra & Mahindra Ltd. (Rs. 1311.50,-0.41%), among others.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,954 shares traded, 1,719 advanced while 1,066 shares declined and 169 remained unchanged.
On the global front, Asian markets were green ahead of the minutes of the US Fed meeting this week for possible insight into how members see Trump’s polices.