NEW DELHI: Growing expectations of interest rate cut by the US Federal Reserve and rally in global markets helped equity markets to make a strong comeback. Local benchmark indices- BSE Sensex and NSE Nifty 50 gained nearly 1% intraday. On Monday, the Sensex closed 612 points or 0.75% higher at 81,698.11, while the Nifty 50 closed 187.46 points or 0.76% higher at 25,010.60. Vinod Nair, Head of Research at Geojit Financial Services, said, “The US Fed has indicated a rate cut in September, which is getting reflected in the fall in US Treasury yields and the dollar index, which led to a rally in global markets despite no indication of the size of the cut. Indian markets hit new highs on the back of a change in FII sentiment from negative to positive and strong DII inflows.” Mid and smallcaps also gained on Monday. The BSE Midcap index closed 0.66% higher and the BSE Smallcap index closed 0.20% higher. The total market capitalisation of BSE-listed firms rose to a new high of Rs 462.3 lakh crore on Monday, up from Rs 460 lakh crore in the previous session.
33 out of 50 stocks listed on the Nifty 50 closed with gains on Monday, led by HCL Tech, Hindalco, NTPC, ONGC and Bajaj Finserv. On the sectoral front, metals (+2.16%) were the top performers, followed by realty (+1.76%) and IT (+1.39%), while PSU banks (0.50%) were the biggest laggards. Market capitalisation of BSE companies rises to Rs 462 lakh crore The total market capitalisation of BSE-listed firms rose to a new high of Rs 462.3 lakh crore on Monday, up from Rs 460 lakh crore in the previous session. 33 out of 50 stocks listed on the Nifty 50 closed with gains on Monday, led by HCL Tech, Hindalco, NTPC, ONGC and Bajaj Finserv.
