Macro stability boosts market; Sensex posts 8th straight gain


The BSE market breadth was, however, bearish with 1,430 declines and 1,232 advances.

Equity markets on Monday morning opened on a negative note but indices were on a recovery mode in initial trading.

Tata Motors Ltd shares declined over 2% after a news report said that Jaguar Land Rover is planning to cut almost 1,000 jobs as it scales back production at some of its United Kingdom sites. The stock settled at Rs 340, down 4.67 per cent on the BSE.

As of 10:25 am, Infosys shares traded 3.07 per cent lower at Rs 1,135.50. The tech major's revenues grew by 7.2 per cent in dollar terms, while 5.8 per cent in constant currency terms, with operating margins coming in at 24.3 per cent.

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Hero MotoCorp (2.02%), Kotak Mahindra Bank (1.88%) and Adani Ports (1.85%) were the top gainers on Sensex. Cement stocks such as ACC and Ambuja Cements also incurred smart gains.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March. Globally, in the Asian region, Japan's Nikkei moved up 0.26 per cent, while Hong Kong's Hang Seng fell 1.60 per cent and Shanghai Composite index fell 1.53 per cent.

Sectorally, the BSE realty index ended 1.82 per cent higher followed by healthcare by 1.11 per cent. FMCG rose 0.96 per cent, power 0.67 per cent, infrastructure 0.52 per cent, capital goods 0.44 per cent, auto 0.33 per cent and bank 0.30 per cent. Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties. Both these indices outperformed the Sensex.