The S&P BSE Sensex was trading over 150 points higher and was marginally below the 35,000 level. The Nifty50 index was hovering over 10,300-mark. Bajaj twins (Bajaj Finserv, Bajaj Finance) both shot up 5 per cent each and were the top Sensex gainers.
Besides, IndusInd Bank and Bajaj Auto also rose over 2 per cent each.
Reliance Industries climbed another 2 per cent and hit $150 billion m-capitalisation. RIL hit a fresh all-time high of Rs 1,804, up 2.5 per cent, on the BSE on Monday, having surged 12 per cent in the past three trading sessions as the company become net debt-free ahead of its March 2021 deadline.
Glenmark Pharma share price surged 15 percent, hitting upper circuit of Rs 450 per share on the BSE, after the pharma company said it received Indian regulatory approval to make and sell oral antiviral drug favipiravir for treating mild-to-moderate COVID-19 infections in the country.
The trend among Nifty sectoral indices was all green, except the Nifty IT index, led by Nifty Pharma index, up 1.8 per cent.
A total of 61 companies including Dhanlaxmi Bank and AIA Engineering, are scheduled to announce their March quarter earnings.
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The S&P BSE Sensex cooled off the high of 35,213 but did end the day 179 points higher at 34,911. The Nifty, which tested 10,400, failed to hold on to the gains but rallied 66 points to close at 10,311.
IndusInd Bank has reduced lending rate by 10 bps across tenors effective today, reported CNBC-TV18.
Fitch Ratings has revised the outlook on the debt of Adani Green Energy Limited Restricted Group 2 (AGEL RG2), Adani Ports and Special Economic Zone Limited (APSEZ) and Adani Transmission Limited's restricted group (ATL RG) to negative from stable and affirmed the ratings at 'BBB
Indian rupee ended with a gain of 16 paise at 76.03 per dollar versus Friday's close of 76.19, amid buying seen in the domestic equity market.
Shares of SBI Cards and Payment Services rose 6 per cent on Monday to hit 12-week high of Rs 655, on the BSE on the back of heavy volumes. The stock was trading at its highest level since March 30, 2020. In the past month, it has rallied 28 per cent, as compared to 14 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 3.56 million shares changing hands on the NSE and BSE till 12:41 pm.
The up move in RIL has been triggered by a series of investments in its telecom business vertical – Reliance Platforms – by marquee global companies and investors that include Facebook, Silver Lake Partners, KKR, General Atlantic, Mubadala, and TPG. In the process, RIL has become net-debt free much ahead of its deadline to achieve this status by March 2021.
The Sensex was up 286.29 points or 0.82% at 35018.02, and the Nifty was up 94.90 points or 0.93% at 10339.30.
Gold jumped to its highest in more than a month on Monday as investors sought the safe-haven metal after surging coronavirus cases intensified concerns over a delay in global economic recovery, reported Reuters.
The company board granted approval for the voluntary delisting of the equity shares of the company from the stock exchanges, subject to the necessary approvals.
Bali is leikely to join on July 2 and he will be replacing Pranoy Mondal who joined CSB Bank recently. Sumit Bali resigned from IIFL Finance on June 19.
Indian rupee is trading higher at 76.13 per dollar, amid buying seen in the domestic equity market. It opened flat at 76.17 per dollar against Friday's close of 76.19.
At 11:13 am, the S&P BSE Information Technology index was trading 0.18 per cent lower at 14,509.47 levels, with Ramco Systems (down 5 per cent) being the top loser. Other top losers on the index were Zensar Technologies (down over 3 per cent), Cigniti Tech (down 3 per cent) and Intellect Design Arena (down over 2 per cent).