Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Indian stocks close at record levels as banks, metals jump

10/18/2021 | 06:51am EST
A woman walks past the Bombay Stock Exchange building in Mumbai

BENGALURU (Reuters) - Indian shares rose for the seventh straight session to close at an all-time high on Monday helped by gains in public sector banks, while metals and energy stocks surged on the back of a rise in commodity prices.

The NSE Nifty 50 index closed up 0.76% at 18,477.05, while the S&P BSE Sensex rose 0.76% to 61,762.86.

The Nifty Metals index surged 3.9%, led by gains of more than 10% in National Aluminium Co, Vedanta, Hindustan Copper and Hindustan Zinc, as global metal prices spiked.

The Nifty Energy index rose 1.5% after crude prices hit their highest in years. [O/R]

The Nifty Bank index gained 0.80%, while the public sector bank index surged 3.98%, rising for a seventh straight session.

Shares of PNB Housing Finance Ltd fell 5% to their lowest since early June after the mortgage lender scrapped a fund-raising deal with a group of investors, led by private-equity firm Carlyle Group.

Real estate developer Indiabulls Real Estate rose as much as 13.4% after it reported a quarterly net profit compared with a loss a year earlier.

Shares of Tata Power rose as much as 19% after a report last week said the power generation company was in talks with pension and sovereign fund managers to raise about $500 million, before a planned IPO by its renewable energy unit.

Investors are now looking to updates from industries after state-run Coal India temporarily stopped auctioning coal to non-power customers and reduced contracted supplies, potentially hurting companies in other industries as India battles one of its worst power supply deficits in years.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Shounak Dasgupta)

ę Reuters 2021
Latest news "Economy & Forex"
06:05aChina regulator says govt policies not necessarily linked to overseas IPOs
04:23aBahrain central bank plans to offer digital Dinar - Sky News Arabia
03:58aCHINA SECURITIES REGULATOR : Says has achieved positive progress in promoting cooperation on some key issues with sec and pcaob
03:57aCHINA SECURITIES REGULATOR : Says has held candid, and constructive communications with sec and pcaob
03:56aCHINA SECURITIES REGULATOR : Says chinese govt policies are not targeting specific industry or private companies, and has no connection with firms' overseas listing
03:53aCHINA SECURITIES REGULATOR : Says it understands some domestic firms are actively communicating with domestic and overseas regulators to list in the u.s.
03:51aCHINA SECURITIES REGULATOR : Says will continue to communicate with u.s. counterpart to resolve accounting and regulating issues
03:50aCHINA SECURITIES REGULATOR : Says media report that china will ban companies with vie structure from u.s. listing is total misunderstanding and misreading
03:48aCHINA SECURITIES REGULATOR : Says respects chinese companies' choice of listing venues on the basis of compliance
03:32aECOWAS Mission Observes the Presidential Election in The Gambia
Latest news "Economy & Forex"