The stock market closed higher.
Mumbai:
Domestic bourses rose after two trading sessions on Monday due to strong trend in global markets and buying in HDFC Bank. BSE’s 30-share index Sensex closed up 110.09 points, or 0.17 per cent, at 64,996.60 points. It had climbed up to 326.94 points at one stage during the trading.
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The standard index Nifty of the National Stock Exchange (NSE) also registered an increase of 40.25 points or 0.21 percent. It closed at 19,306.05 points at the end of trading. Among the Sensex group companies, Larsen & Toubro, Mahindra & Mahindra, HDFC Bank, Sun Pharma, Maruti Suzuki, Kotak Mahindra Bank, IndusInd Bank, Tata Steel and State Bank of India were the major gainers.
On the other hand, Reliance Industries, Nestlé, Titan, HCL Technologies, ITC and Tata Motors declined.
Among other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng managed to gain. European markets were trading with a positive trend in the afternoon. US markets closed higher on Friday.
Vinod Nair, head of research at Geojit Financial Services, said the market was not surprised by US Federal Reserve chief Jerome Powell’s statement. An interest rate hike is expected at the November Fed meeting. However, this resulted in a decline in IT stocks domestically but gains in other sectors.
Meanwhile, international oil benchmark Brent crude rose 0.37 percent to $84.79 a barrel.
According to available data, foreign institutional investors in the previous trading session on Friday had invested Rs. 4,638.21 crore worth of shares were sold.