The BSE Sensex gained 104.63 points to end at 33,147.13, while the broader Nifty spurted 48.45 points to finish at 10,343.80.
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
Investors booked profits at higher levels after the Sensex and Nifty hit all-time highs in the previous session.
Pharma shares extended losses after the government's ban on combination drugs.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
Positive cues from Asian peers also uplifted the sentiment.
Investors booked profits at higher levels with oil shares leading the decline
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
Sensex, Nifty slightly upbeat, midcaps to rule markets this week.
'The entire government-owned banking system (excluding SBI) is now in the red.' 'But worse is to come,' warns T N Ninan.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
For the seven months since February 2014, the benchmark index surged nearly 27%.
Investors booked profits at higher levels despite the growth oriented Budget.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
Domestic mutual funds (MFs) and foreign portfolio investors (FPIs) have been net buyers of stocks in August. Domestic fund houses have continued to invest in stocks, propelled by the success of various new fund offers (NFOs) and strong flows into equity funds. MFs had purchased stocks worth more than Rs 8,300 crore until August 23, according to the data provided on the Securities and Exchange Board of India (Sebi) website. Jimmy Patel, MD and CEO at Quantum AMC, says: "The surge in equity investments by MFs is because of two key reasons. One, equity NFOs are getting a strong response from investors, and fund houses need to deploy that money in the markets.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Hero MotoCorp was the top gainer in the Sensex pack, spurting 4.46 per cent. IndusInd Bank, Tata Motors, Vedanta, SBI, M&M, Sun Pharma, Tata Steel, HDFC and HDFC Bank too rose up to 3.63 per cent.
Broader markers outperformed their larger peers.
The NSE Nifty cracked below the 10,800-mark to hit a low of 10,753.05 intra-day, before closing at 10,762.45 with a loss of 59.40 points, or 0.55 per cent.
HDFC Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel. On the other hand, Bharti Airtel, M&M, NTPC, Tech Mahindra, Sun Pharma and PowerGrid were among the gainers.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
The government is considering a proposal to privatise some state-owned banks in phases.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
The 30-share Sensex was up 188 points at 28,415 and the 50-share Nifty was up 58 points at 8,584.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
