Apart from HDFC twins, other major gainers in the 30-share pack include Bajaj Finance, Kotak Mahindra Bank, Tech Mahindra, Titan, Larsen & Toubro.
Apart from HDFC twins, other major gainers in the 30-share pack include Bajaj Finance, Kotak Mahindra Bank, Tech Mahindra, Titan, Larsen & Toubro.
The week started on a strong note, with the Sensex climbing over 1,100 points in early trade on Monday, driven by substantial gains in major indices. HDFC Bank and HDFC Amid a mixed trend in Asian markets.
In morning trade, the 30-share Sensex rose 1,143.78 points to 60,420.47, while the broader Nifty 50 also saw a bullish trend as it rose over 302.20 points to hit 17,972.65.
Shares of HDFC climbed 8.37% to Rs 2,656.10, while that of HDFC Bank rose nearly 8% to Rs 1,623.65.
In a significant development, HDFC Ltd said it will merge with HDFC Bank.
According to a regulatory filing, post amalgamation, the subsidiary/associate of HDFC Ltd will become a subsidiary/associate of HDFC Bank.
In the Sensex pack, 24 stocks were in green while 6 stocks were in red.
Apart from HDFC twins, other major gainers in the 30-share pack include Bajaj Finance, Kotak Mahindra Bank, Tech Mahindra, Titan, Larsen & Toubro.
In contrast, Infosys, Mahindra & Mahindra, Maruti, ITC, UltraTech Cement were among the laggards.
Meanwhile, Asian markets witnessed a mixed trend, with Japanese benchmark Nikkei 225 trading marginally in the red, while Hong Kong’s Hang Seng and South Korea’s Kospi indices were in positive territory.
Apart from the RBI policy announcement due on April 8, developments related to the Russia-Ukraine war, crude oil movement, foreign fund inflows as well as PMI data for manufacturing and services sectors are expected to weigh on investor sentiments.
On Friday, US markets closed with gains.
On the first trading day of 2022-2023, the Sensex closed at 59,276.69 points with a gain of 708.18 points, or 1.21%, on Friday. Nifty too ended the day higher at 17,670.45, up 205.70 points or 1.18%.
The Sensex rose 1,914.49 points or 3.33% last week, while the Nifty rose 517.45 points or 3.01%.
Meanwhile, international oil benchmark Brent crude rose 0.15% to $104.55 a barrel.
Foreign portfolio investors invested a little over ₹1,909 crore in equities on Friday.