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Post Election Rally Continues; Sensex Surges 175 Points

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Indian frontline indices opened the week strong, as earnings and global developments continued to be at the centre.

The Sensex was trading with gains of 183 points, while the Nifty was up 42 points in trade. Yes Bank was the top gainer from the Nifty and the Sensex, with the stock jumping 3 per cent at Rs 145.60 a piece. Stocks like Lupin, Reliance Industries, Bharti Airtel and Tata Motors were among the losers in trade.

 

Asia stocks edged up early on Monday, and the euro was confined to a narrow range after the weekend"s European Parliament elections highlighted the deepening political fragmentation of the 28-country bloc.

Wall Street's major stock indexes edged higher on Friday after falling in the previous session, as hopeful comments from US President Donald Trump regarding trade relations with China assuaged concerns among some investors. Oil prices rose on Monday as ongoing supply cuts led by OPEC kept markets relatively tight. Brent crude futures were at $69.10 per barrel around 6 am, up 0.6 per cent, from their last close.

On the earnings front, as many as 280 companies will release their March quarter earnings on May 27, 2019 including names like ABBOTT India, Adani Ports, BHEL, Colgate Palmolive, Emami, GAIL India, Interglobe Aviation, Oil India and Zee Entertainment among others.

Post Election Rally Continues; Sensex Surges 175 Points

On the corporate front, NTPC Q4 profit went up 48.7 percent at Rs 4,350.2 crore versus Rs 2,925.6 crore; revenue down 8 percent at Rs 21,222.4 crore versus Rs 23,100.3 crore (YoY).

Suven Life Sciences Q4 profit went up 8.6 percent at Rs 67.9 crore versus Rs 62.5 crore; revenue up 18.5 percent at Rs 253.3 crore versus Rs 213.7 crore (YoY).

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