AVN 66.35 Increased By ▲ 1.15 (1.76%)
BAFL 30.72 Decreased By ▼ -0.02 (-0.07%)
BOP 4.88 Increased By ▲ 0.08 (1.67%)
CNERGY 3.78 Increased By ▲ 0.07 (1.89%)
DFML 14.33 Increased By ▲ 0.12 (0.84%)
DGKC 40.94 Decreased By ▼ -0.11 (-0.27%)
EPCL 46.89 Increased By ▲ 0.44 (0.95%)
FCCL 11.34 Decreased By ▼ -0.06 (-0.53%)
FFL 5.06 Increased By ▲ 0.01 (0.2%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.44 Increased By ▲ 0.11 (1.06%)
HUBC 66.65 Decreased By ▼ -0.22 (-0.33%)
HUMNL 5.67 Decreased By ▼ -0.04 (-0.7%)
KAPCO 27.99 Increased By ▲ 0.23 (0.83%)
KEL 2.23 Increased By ▲ 0.03 (1.36%)
LOTCHEM 24.95 Increased By ▲ 0.05 (0.2%)
MLCF 21.30 Decreased By ▼ -0.14 (-0.65%)
NETSOL 85.50 Increased By ▲ 1.90 (2.27%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 10.99 Decreased By ▼ -0.02 (-0.18%)
PIBTL 4.21 Decreased By ▼ -0.01 (-0.24%)
PPL 79.55 Increased By ▲ 5.07 (6.81%)
PRL 13.50 Increased By ▲ 0.07 (0.52%)
SILK 0.92 No Change ▼ 0.00 (0%)
SNGP 42.05 Increased By ▲ 1.65 (4.08%)
TELE 5.96 Increased By ▲ 0.10 (1.71%)
TPLP 15.77 Increased By ▲ 0.37 (2.4%)
TRG 114.11 Increased By ▲ 2.70 (2.42%)
UNITY 13.80 Increased By ▲ 0.05 (0.36%)
WTL 1.14 No Change ▼ 0.00 (0%)
BR100 4,073 Increased By 36.1 (0.89%)
BR30 14,780 Increased By 367.9 (2.55%)
KSE100 40,736 Increased By 264.8 (0.65%)
KSE30 15,294 Increased By 131.3 (0.87%)
Follow us

BENGALURU: Indian shares on Monday registered their biggest monthly gains since July, as stocks across sectors advanced and investors awaited outcomes from major central banks’ policy meetings later this week.

The NSE Nifty 50 index rose 1.3% to 18,012.2 at close, and the S&P BSE Sensex finished 1.3% higher at 60,746.59, both recording their third straight session of gains.

For the month, the indexes added more than 5% each on the back of corporate earnings reports and hopes of a less-hawkish stance from major central banks.

“The U.S. economy’s strength is indicating a lower probability of an immediate U.S. recession and indications that inflation is plateauing. This might enable the Fed to slightly moderate their hawkish stance,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Canadian and Australian central banks have hiked rates below expectations. If this trend spreads, that will favour the rally’s continuation in the short-term, Vijayakumar added.

Indian shares post second straight weekly rise as energy, auto climb

Investors this week will be looking for outcomes of policy meetings of the U.S. Federal Reserve and the Bank of England.

A meeting of the Reserve Bank of India’s Monetary Policy Committee is also expected.

Scheduled for Nov. 3, the meeting would potentially discuss the Committee’s response to the government on its failure to stick to its inflation target for three quarters in a row.

In domestic trading, Nifty’s IT, automobile, and finance indexes were among the top performers, adding more than 1% each.

UltraTech Cement was the top percentage gainer on the Nifty 50, closing 4.2% higher.

Telecom operator Bharti Airtel ended 1.9% up, after hitting a record high, ahead of its quarterly results.

Life Insurance Corp of India finished 1.9% higher after Reuters reported, citing sources, that it plans to transfer nearly $22 billion from policyholders’ funds into a fund earmarked to pay dividends or issue bonus shares.

Comments

Comments are closed.

Indian shares post monthly rise of over 5%; central bank meetings eyed

Intra-day update: rupee improves, up 1.13% against US dollar

Talks extended for two days: IMF demands govt withdraw power subsidy

Former military ruler Musharraf’s body to be flown to Pakistan

All set for inking pact with Denmark under DETI

At least 245 dead in Syria after Turkey earthquake

FBR to check benami transactions of civil servants

TTP celebrates death

COAS reaches UK on five-day visit

China delivers two Hualong-1 nuclear power units

KSA warns sanctions, under-investment may cause energy shortages