Gains in the
second half helped Indian market trend higher, with Sensex advancing 222 points to end the session at record closing high of 36,719 while Nifty edged higher by 75 points to post 6-month high of 11,085.
ITC, ICICI Bank, Maruti Suzuki and UPL had a combined contribution of 55 points of total 75 points gains seen by Nifty. ITC, with other cigarette stocks (VST Ind, Godfrey Phillips) saw major gains in trade after GST Council left the cigarette cess unchanged in the meet that took place on Saturday, July 21. And, UPL surged 16 percentage to post biggest intraday gains in the past eight years after the Arysta acquisition.
Broader markets gained on the similar line such as Benchmarks. Nifty Midcap Index added 200 points to 18,255 with support coming in from L&T Fin, Info Edge & Voltas. And the banking Index, Nifty Bank jumped 135 points to end above 27,000, with 10 of 12 Index stocks closing in the green.
Stocks like Havells, Bajaj Electricals, Voltas, Lemon Tree, Indian Hotels, Kansai Nerolac gained after a rate cut announced by the GST council on July 21.
In the futures market, Nifty 11,000 Put added 11 lakh shares in the open interest with premium moving 60 percent lower. Amongst Call options, Nifty 11,150 call added a little more than 2,00,000 shares in the open interest with premium moving 28 percent higher. Nifty July Futures closed with a premium 9 points against a premium of 15 points on Friday.
Asian shares closed mixed, with Japanese stocks pressured by strength in the yen after the dollar dropped on US President Donald Trump's criticism of the Federal Reserve. The Nikkei 225 dropped 1.3 percent to close at 22,396.99 as the dollar extended its losses against the Japanese currency. Major exporters closed lower, with the electric appliances sector falling 1 percent and automakers declining 1.2 percent.
Uniqlo-owner Fast Retailing dropped 5.7 percent. Financials, however, recorded sharp gains, with Mitsubishi UFJ Financial Group up 3.6 percent. The broader Topix recorded more moderate declines, ending lower by 0.4 perecent.
Meanwhile, Chinese equities finished the day mixed. The Shanghai composite reversed early losses to climb 1.1 percent to 2,859.52, adding to sharp gains seen in the last session, as banks and industrials offset sharp losses in the health care sector.
The smaller Shenzhen composite finished the day higher by 0.5 percent and the blue-chip CSI 300 index closed up 0.9 percent. Hong Kong's Hang Seng Index closed flat at 28,256 as steep losses in the tech space were offset by gains in property stocks, materials and heavily weighted financials.Elsewhere, the Kospi edged down by 0.9 percent to close at 2,269.31 as steep declines in blue chip tech stocks — including Samsung Electronics declining 2 percent and SK Hynix falling 7 percent— dragged the index lower. In Australia, the S&P/ASX 200 fell 0.9 percent to 6,228 amid broad-based losses, with all sectors closing in negative territory bar the energy subindex.