Senex, Nifty Extend Gains For Second Day On Fed, China Optimism

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Senex, Nifty Extend Gains For Second Day On Fed, China Optimism

(RTTNews) - Indian shares eked out modest gains on Monday, with a weaker dollar and a decline in bond yields last week helping underpin investor sentiment.

Global cues were supportive after soft U.S. jobs and manufacturing data boosted hopes the Federal Reserve is nearing the end of its tightening cycle. Markets also cheered news of additional stimulus in China.

The benchmark S&P BSE Sensex rose 240.98 points, or 0.37 percent, to 65,628.14, extending gains for a second straight session.

The broader NSE Nifty index settled 93.50 points, or 0.48 percent, higher at 19,528.80.

Jio Financial Services, HCL Technologies, UltraTech Cement, Wipro and Coal India jumped 4-5 percent in the Nifty pack while Axis Bank, ITC, Nestle India and Mahindra & Mahindra all fell about 1 percent.

Railway stocks surged on heavy volumes, with IRFC climbing 20 percent, IRCTC adding 2.2 percent and Rail Vikas Nigam surging 11.5 percent after reports of a new plan of the Ministry of Railways to seek Cabinet approval for a Rs. 5.25 lakh crore investment program during fiscal years 2024-31 to improve rail connectivity to mining areas, cement plants, and consumption points.

IDFC First Bank jumped 5.8 percent after GQG Partners Emerging Markets Equity Fund, GQG Partners International Opportunities Fund bought a 2.6 percent stake in the lender through block deals on Friday.

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Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, on an improved outlook for interest rates after US Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole on Friday. Powell said economic risks are 'shifting' and a rate cut may be warranted. Asian markets closed mixed on Friday.
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Thai Shares Tipped To Open To The Upside On Monday

Thai Shares Tipped To Open To The Upside On Monday

The Thai stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had slumped more than 40 points or 3.5 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it's poised to extend its gains on Monday.
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Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Monday, extending the gains in the previous session, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 moving well above the 42,850 level, with gains across most sectors led by index heavyweights and technology stocks.
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Indonesia Stock Market May End Losing Streak On Monday

Indonesia Stock Market May End Losing Streak On Monday

The Indonesia stock market has moved lower in two straight sessions, slipping almost 85 points or 1.1 percent along the way. The Jakarta Composite Index now sits just shy of the 7,860-point plateau although it's likely to stop the bleeding on Monday.
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Australian Market Notably Higher

Australian Market Notably Higher

The Australian stock market is notably higher on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weal spot.
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Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the four-day losing streak in which it had fallen more than 480 points or 1.7 percent. The Hang Seng Index now rests just beneath the 25,340-point plateau and it's expected to open higher again on Monday.
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China Stock Market May Extend Winning Streak

China Stock Market May Extend Winning Streak

The China stock market has moved higher in three straight sessions, advancing almost 100 points or 2.9 percent along the way. The Shanghai Composite Index now sits just above the 3,825-point plateau and it's expected to add to its winnings again on Monday.
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