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Sensex adds over 200 points, Nifty retakes 10,700 as HDFC twins shine; RIL, Axis Bank drop 2%

Indian stock markets extended gains after opening marginally higher on Monday with BSE Sensex rising more than 200 points following the uptick in the regional Asian peers on the back of better-than-expected Q4 results.

Stock markets extended gains after opening marginally higher on Monday with BSE Sensex rising more than 200 points following the uptick in the regional Asian peers on the back of better-than-expected Q4 results.

Going ahead in the holiday-shortened week, the domestic equities are likely to be steered by the upcoming corporate earnings such as Kotak Mahindra Bank, HDFC, HCL Technologies, Hero MotoCorp, Tata Power and Adani Ports along with movement in crude oil prices and rupee’s strength against the US dollar. India’s stock markets will be closed on Tuesday on the account of ‘Maharashtra Day’.

Today only, India’s largest housing financier HDFC and country’s second-largest private sector bank by market capitalisation Kotak Mahindra Bank are scheduled to report the financial results for the quarter and the year ended 31 March along with the declaration of dividend (if any).

Other major companies which are also lined up with the Q4 earnings for the financial year 2017-2018 include DHFL, Ceat, Hindustan Zinc, Container Corp, Prakash Industries and Som Distilleries.

Shares of Adani Ports, Wipro, TCS, Infosys, L&T, Kotak Mahindra Bank, HDFC, SBI and HDFC Bank were the top gainers among the components of BSE Sensex on Monday while shares of Axis Bank and Reliance Industries (RIL) lost over 1%.

BSE Sensex surged about 228.73 points to a day’s high of 35,198.43 after opening up 51.5 points or 0.15% at 35,021.2 whereas NSE Nifty added 63.6 points to mark a day’s top of 10,755.9 after beginning the day at 10,705.75, up by 13.45 points or 0.13%. India’s forex market will remain shut on Monday on account of ‘Buddha Purnima’.

The S&P 500 and Nasdaq closed slightly higher on Friday as inflation worries and some struggling technology and energy stocks were offset by an advance in the consumer discretionary sector, led by Amazon, Reuters said in a report.

The Dow Jones Industrial Average fell 11.15 points or 0.05% to 24,311.19, the S&P 500 gained 2.97 points or 0.11% to 2,669.91 and the Nasdaq Composite added 1.12 points or 0.02% to 7,119.80.

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Sensex adds over 200 points, Nifty retakes 10,700 as HDFC twins shine; RIL, Axis Bank drop 2%
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