Indian Markets
• Markets continued to surge higher on Monday on the back of heavy buying. While
the BSE Sensex finally closed 311.35pts or 1.59% higher at 19,906.10, the Nifty
gained 95.5pts or 1.62% to close at 5980.45.
• Broad market indices too ended higher as the BSE Midcap and Small Cap indices
gained 0.66% and 0.74% respectively. Market breadth was positive as the A/D ratio
was 1.47:1 on the BSE. NSE cash turnover was Rs.16,169 cr vs Rs.16,982 cr on
last Friday.
• All the sectoral indices ended higher. The top gainers were the BSE FMCG, Realty
and Auto indices. The top gainers from the BSE 30 were Rcom, ITC and Hero
Honda. The top losers were Sterlite Ind, NTPC and TCS.
• As per the provisional figures on Monday, the FIIs were net buyers of Rs. 1,793 cr
in the cash markets, while they were net buyers of Rs. 962 cr in the F&O markets.
DIIs were net sellers of Rs. 457.9 cr in the cash markets.
US Markets
• A U.S. stock rally continued to pick up speed through Monday afternoon, with all
three major indexes closing at four-month highs after a key group of economists
called an official end to the recession.
• The Dow gained 146 points, or 1.4%, to end at 10,753, its highest close since mid-
May. The tech-heavy Nasdaq rallied 40 points, or 1.7%, to finish at 2,356.
• A report from the National Association of Home Builders - the first of a number of
readings on the housing market due out this week - showed builder confidence for
newly built single-family homes remained steady in September, after falling for
three consecutive months. The NAHB's Housing Market Index was unchanged at
13. Economists surveyed by Briefing.com were expecting builder sentiment index
to edge up to 14.
• Investors will also be watching the Federal Reserve's announcement on interest
rate policy Tuesday. The central bank is widely expected to hold rates steady, but
investors will parse the Fed's policy statement for clues on the economic outlook.
• Indian ADRs ended higher. In the banking space, ICICI and HDFC Bank gained
2.3% and 1.7% respectively. IT majors Wipro and Infosys surged 0.9% and 1.7%
respectively. Amongst others, Tata Motors closed higher by 3.4% and Dr Reddy
gained 2.8%.
Latin American Markets
• Among the Latin American markets, the Mexican and Brazilian markets ended
higher by 0.69% and 1.64% respectively.
Asian Markets
• Today, the Asian markets are mostly trading higher.
• While the Hang Seng is up 0.4%, Shanghai is up 0.37%. Japan’s Nikkei and
Taiwan are up 0.4% and 0.28% respectively.
Commodities
• Oil futures for October delivery gained $1.20 to settle at $74.86 a barrel on
Monday.
• Gold for December delivery rose $3.30 to settle at an all-time high of $1,280.80 an
ounce. Earlier, it hit an intra-day high of $1,285.20 an ounce.
• Metals mostly ended lower. Zinc and Copper lost 0.25% and 0.19% respectively
while Lead ended lower by 1.01%. Aluminum gained 0.84%.
Outlook
Today, the Indian markets could open higher on the back of strong global cues and
run into profit taking at higher levels. In the second half, the markets could take cues
from Europe and the Dow Futures. Auto, Metals and Oil & Gas stocks could do well
today.
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