We had mentioned in Friday’s closing report that Nifty, Sensex were struggling to head higher. The major indices of the Indian stock markets rallied on Monday and closed 0.75% higher than Friday’s close. The trends of the major indices in the course of Monday’s trading are given in the table below:
India Vix closed at 13.64, up 2.15%. NSE turnover was at 90.04 crore.
Indian equity markets surged to new closing-high levels on Monday as investors' sentiments were buoyed by positive global cues, coupled with a marginally strong rupee. The key indices closed with gains of more than half a per cent each to touch new closing highs since March 2015. On the NSE, there were 787 advances, 649 declines and 62 unchanged. On the BSE, there were 1,514 advances, 1,368 declines and 213 unchanged.
Hydrocarbons major Cairn India on Monday announced it has appointed oil and gas experts Melody Meyer and Atul Gupta as advisors in a move to gear up to realise its aim of contributing 50 per cent of India's overall crude production. "They will provide strategic direction and delivery focus to Cairn India, as the company embarks upon its growth journey of contributing to 50 per cent of India's overall crude production, through 5 billion barrels of oil equivalent reserves and growing and sustaining production at 300,000 barrels of oil and oil equivalent per day," Cairn India said in a release. The company’s shares closed at Rs292.00, down 0.49% on the BSE.
Tata Steel could be considering withdrawing from talks on a planned merger of its European business with German conglomerate Thyssenkrupp, British media reported on Sunday. The Sunday Times newspaper said that Tata Steel is considering a "daring plan to break off a planned merger" of its European business with those of the German conglomerate. Such a deal with the German steel giant, talks on which were announced by Tatas last year, could lead to the formation of a European steel behemoth with blast furnaces in Wales, the Netherlands and Germany. According to the paper, however, the deal has been taking time to close as Tata Steel tries to solve the problem of its 15 billion pounds British steel pensions scheme. The company has been engaged with stakeholders in Britain to find a structural solution and a way forward with regard to the affordability of the legacy pension scheme liabilities. Tata Steel shares closed at Rs492.95, down 0.41% on the BSE.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: