Moneycontrol
Last Updated : May 07, 2018 04:45 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Buoyed by metals and auto stocks, indices open week on high note

Among broader markets, midcaps traded strong as well but mildly underperformed the benchmarks, gaining around 0.70 percent

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Moneycontrol News 

Huge gains in financials, metals, auto as well as energy names ensured that the market had a good start to the week with the Nifty reclaiming 10,700 during the day’s trade and Sensex ending almost 300 points higher.

The market began the day on a positive note with the Sensex opening around 100 points higher while the Nifty managed to trade around 10,650-mark. While it held on to these levels for the larger part of the day, afternoon session witnessed further buying among banks, auto as well as metal names. These pushed up indices further, with the Sensex crossing 35,000-mark as well.

Among broader markets, midcaps traded strong as well but mildly underperformed the benchmarks, gaining around 0.70 percent. Sectorwise, financials were the top gainers after bond yields fell during the course of the day. The Reserve Bank of India (RBI) announced a surprise buyback of bonds worth Rs 10,000 crore, which was cheered by NBFC stocks as well as public sector banks.

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 May 7, 2018 04:45 pm
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