Benchmark indices ended higher by almost 2% with the Nifty50 index hitting the highest mark since August, 2015, supported by strong global cues as stronger-than-expected US jobs report suggested that recovery in the world’s largest economy was back on track. The Nifty50 surged 145 points to close the session at 8,468.The Nifty Bank also closed at its highest level since August 19, 2015. Adani Ports, Bank of Baroda and Tata Moors were the top gainers of the day while Hcltech, Indusind Bank and Axis Bank were among the losers.
Global Markets Update:
- GE Aviation sees no need for further increases in planning jetliner production, the aero-engine maker’s chief executive David Joyce said at the Farnborough Airshow on Monday.
- A rally in the shares of steelmakers and Financials helped European stocks to rise for the third straight session on Monday, with the steel companies lifted by signs of sector consolidation.
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