Sensex jumps 100 points, Nifty near 12,100; RIL hits record high

NEW DELHI: The domestic equity market opened with gains on Monday as traders shrugged the disappointing macro data released on Friday amid firm cues from global peers.India reported July-September quarter GDP growth rate at 4.5 per cent, lowest in over six years. The core sector output also shrank in October.Meanwhile, goods and services tax (GST) collections rose 6 per cent to Rs 1.03 lakh crore in November, reversing two months of decline, with experts attributing the increase to festive shopping and better compliance. BSE flagship Sensex was up 124.11 points at 40,917. Its NSE counterpart Nifty gained 33.20 per cent to 12,089. Broader market indices, however, were subdued as Nifty Midcap dipped 0.32 per cent to 17,167 and Nifty Smallcap 0.29 per cent to 5,797.All but one sector on NSE were trading with losses. Nifty Auto was the biggest loser, down 0.61 per cent to 8,036. Nifty Media was the sole index trading with gains, up 1.55 per cent to 1,863.Telecom stocks soared as all major service providers raised tariffs. Bharti Airtel was up 7.45 per cent at Rs 475.25 while Vodafone Idea jumped 16.11 per cent to Rs 7.93. Reliance Communication was also up 5 per cent at Re 0.85. BSE Telecom index was up 6.48 per cent at 1,188.Among Sensex stocks, besides Bharti Airtel, Reliance Industries surged 3.48 per cent to hit an all-time high at Rs 1,604. HUL, Bajaj Auto were other major gainers.Globally, shares rose on Monday and oil rebounded after upbeat China manufacturing surveys and as investors clung to hopes Beijing and Washington could reach a compromise in trade talks.MSCI's index of Asia-Pacific shares outside Japan gained 0.46 per cent, reclaiming some of its loss on Friday while Japan's Nikkei jumped 1.11 per cent.U.S. stock futures gained 0.31 per cent to near record highs after a dip in a truncated US session on Friday due to Thanksgiving holiday.

from Economic Times https://ift.tt/2svRDEg