Moneycontrol
Last Updated : Aug 27, 2018 04:54 PM IST | Source: Moneycontrol.com

Market@Moneycontrol: Indices start the week with massive rally; Sensex surges over 400 pts

Banks led the charts as intense buying was visible across the financials space. The Bank Nifty and Nifty PSU bank index were one of the top gainers

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What a cracker of a Monday that was for the market! Bulls had their their way throughout the session, with benchmarks gaining with every passing hour. Indices ended the day at record high levels. The Nifty managed to clock 11,700-mark as well.

Positive global cues also supported the rally as investors took note of cues coming in from Jackson Hole symposium. Jerome Powell, the US Fed Chair, has hinted at slow, but steady rate hikes ahead on the back of strong economic growth in the US as well. Along with it, likely easing tensions and softening of dollar helped the indices end well above key milestones.

Banks led the charts as intense buying was visible across the financials space. The Bank Nifty and Nifty PSU bank index were one of the top gainers. Additionally, metals, too, were one of the strong gainers, up over 1.5 percent.

For more, watch the Markets@Moneycontrol show as Moneycontrol correspondent Uttaresh Venkateshwaran talks to Anchal Pathak about what moved the markets today.
First Published on Aug 27, 2018 04:54 pm
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