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North Korea calm sparks party on St

Despite the ongoing optimism, investors should watch their step, experts say

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North Korea calm sparks party on St
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Global markets heaved a sigh of relief snapping the recent selling streak on Monday. The equity markets in India too displayed strength with both the key indices hitting their highest intraday levels in more than a month.

While the 30-share BSE Sensex closing at 31882.16 after surging 194.64 points, or 0.61%, and Nifty breaching the 10000 mark yet again closing at 10006.05, after jumping 71.25, or 0.72%. The broader index last settled at 10057.40 on August 7. It saw an intra-day movement of about 59.85 points.

L&T gained 3.80%, Asian Paints surged 2.84%, Maruti ended up 2.86%, and HDFC Bank closed with gains of 1.95%. NTPC, Power Grid, Coal India, Hindustan Unilver, Lupin Cipla, HDFC, Adani Ports  were among other gainers on Sensex.

Barring the healthcare and PSU banking indices, all other sectoral indices on the National Stock Exchange closed the day in the green.

North Korea did not conduct another missile test during the weekend on its founding anniversary. The nation’s leader Kim Jong-un threw a party for nuclear scientists and engineers involved in carrying out the country’s most powerful nuclear test last week.

The broader mid-cap and small-cap segments gained 0.87% and 0.54%, respectively. Investors are also awaiting the outcome of CPI inflation, IIP data today. Despite the ongoing upbeat sentiment, experts are of the view that investors should still watch their step given that a possible economic impact of hurricane at the Florida coast, could upset the markets.

Asian markets ended higher after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile test on its founding day.  The country’s course Kospi ended with gains of over 0.60%.  Among other Asian markets, Hang Seng surged 1.04% while Nikkei moved up 1.41% and China’s Shanghai Composite zoomed 0.33%.

European stocks were trading higher with Germany’s Dax Performance Index jumped 1.19% and UK’s FTSE rose 0.28%.

SENTIMENT REVIVAL

  • Despite the ongoing optimism, investors should watch their step, experts say
     
  • Broader mid-cap and small-cap segments gained 0.87% and 0.54%
     
  • All the sectoral indices on NSE climbed barring healthcare and PSU
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