We had mentioned in our Friday’s closing report that Nifty, Sensex were reaching overbought zone. The major indices of the Indian stock markets rallied on Monday and closed with small gains of less than 1%. The trends of the major indices in the course of Monday’s trading are given in the table below:
Positive global cues, coupled with a strong rupee and higher crude oil prices, lifted the Indian equities markets on Monday. The key indices provisionally closed with gains of more than 0.5% each, even as some gains were capped due to profit booking. Buying was witnessed in banking, consumer durables and healthcare stocks. The BSE market breadth was tilted in favour of the bulls -- with 1,841 advances and 1,015 declines. On the NSE, there were 1,108 advances, 541 declines and 76 unchanged.
Industrial conglomerate Tata Group's holding company Tata Sons said that a majority of its shareholders have voted to remove Cyrus Mistry as a Director on its Board during an extraordinary general meeting (EGM) held here on Monday. "The shareholders of Tata Sons, at the extraordinary general meeting held today, passed, with the requisite majority, a resolution to remove Cyrus P Mistry as a Director of Tata Sons," the company said in a statement. Tata Sons' Board had ousted Mistry on October 24, 2016, as its Chairman and appointed Ratan Tata as Interim Chairman. However, Mistry still remained as a Director on the Board of the holding arm of the $100 billion-plus group. TCS shares closed at Rs2,240.55, up 0.30% on the BSE.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below: