Market today : Sensex ends 299 point higher, Yes Bank among best performers

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TRADE TODAY: The Benchmark indices broke there a three-day trend of falling in red and ended on a positive note on Monday market. The government in an attempt to save IL&FS from liquidity crisis took control of its board. Yes Bank share went 10% up post financial statement disclosure whereas bear market rallies in shares of IT companies helped to recover the market.

MARKET AT THE END OF THE DAY:

  • BSE Sensex went 299 points or 0.83% higher to close at 36,526.14. NSE’s Nifty 50 moved 77.85 points or 0.71% upwards to close at 11,008.30.
  • BSE SmallCap went 0.25%, while BSE MidCap gained 0.53%.
  • 22 Stocks in 30-share index gained. 34 Nifty stocks were trending higher against 16 stock which ended in red.

Who Gained? Who did not?

Among BSE’s winners were Yes Bank (+9.68%), TCS (+ 3.26%), HDFC (+3.16%), SBI (+3.04%) and ICICI (+3.00).

On the flip, Bharti Airtel(-3.67%), Axis Bank (-3.00%), IndusInd Bank (-2.25%), Reliance Industries (-2.12%) and Kotak Mahindra (-1.67%) lost the most on BSE.

Factors leading to a change in market trend: 

  • Strengthening Manufacturing Sector: A PTI report revealed that India’s manufacturing sectors have been doing well in terms of order, output and employment. It has boosted its sales from both domestic as well as the international clients.
  • An upward trend in IT shares: Breaking the bearish market trend the IT shares traded higher. Nifty IT index rose over 2% whereas Infibeam gained 18% more.
  • Improving global trends: A free trade agreement between the United States, Canada and Mexico to replace Nafta paving way for higher market trends.

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