Sensex, Nifty Close Higher For Sixth Straight Session
Stock markets finished a choppy session on Monday with mild gains, led by advances in commodities, PSU banking and infrastructure stocks. BSE benchmark index Sensex ended 46 points higher at 36,241, while the NSE Nifty settled at 10,883, up 7 points from the previous close. The key indices closed higher for the sixth consecutive session. Top gainers on the 50-scrip index were IndiaBulls Housing Finance, Yes Bank, HUL, Vedanta and GAIL, finishing between 3.5 per cent and 10 per cent higher. The domestic equity markets tracked an upbeat mood in Asian peers as truce talks between US and Chinese leaders at the G20 summit boosted sentiment.
China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching a deal within 90 days. Oil prices surged nearly five percent.
"Truce talks are a big relief for China. There isn't much for India, it's more of a sentiment change... Today is all about commodities, they're doing well because of global trade," news agency Reuters cited Naveen Kulkarni, head of research, Reliance Securities, as saying.
Investors are keenly awaiting the decision of the central bank's monetary policy meeting on Wednesday.