Extending gains for the sixth consecutive session, Sensex and Nifty — the benchmark equity indices closed Monday’s trade in the positive territory led by gains in most metals, pharma, PSU banks, IT and FMCG stocks. According to market observers, optimism ruled the domestic markets tracking euphoria in other Asian stocks after US President Donald Trump and his Chinese counterpart Xi Jinping agreed to a truce and halted their tariff war at the G20 meet. However, a weak rupee, along with heavy selling pressure in pharma, media and auto stocks, trimmed gains of the headline indices.
The BSE Sensex closed Monday’s trade 46.70 points or 0.13% higher at 36,241 points. The NSE Nifty was just shy of the 10,900 mark and closed 7 points or 0.06% up at 10,883.75 points. Yes Bank was the top Sensex gainer, while Sun Pharma was the top drag, down 7%. On the NSE, Indiabulls Housing Finance was the top Nifty gainer. The headline indices had opened Monday’s trade in the positive territory on Monday tracking positive global cues.
Asian shares rallied after U.S. and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets. Trade-exposed currencies led the early gains, with the Australian dollar notching a four-month peak, while the dollar dropped to one-month lows against the yuan.