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Sensex rises 190 pts to 35,160, Nifty closes at 10,739 level; Axis Bank, Reliance Industries, ICICI Bank top losers

Axis Bank (3.87%), Reliance Industries (3.18%) and ICICI Bank (1.25%) were the top Sensex losers. RIL (Rs 53.26 cr), YES Bank (Rs 51.72 cr) and Axis Bank (Rs 43.26 cr) were the top three stocks on the BSE in terms of volume toppers.

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Sensex rises 190 pts to 35,160, Nifty closes at 10,739 level; Axis Bank, Reliance Industries, ICICI Bank top losers

The Sensex and Nifty closed higher amid optimism over Q4 earnings and higher Asian markets. While the Sensex rose 190 points to 35,160, Nifty was up 47 points to 10,739 level. YES Bank (3.90%), HUL (2.27%) and TCS (2.22%) were the top gainers on Sensex.

Axis Bank (3.87%), Reliance Industries (3.18%) and ICICI Bank (1.25%) were the top Sensex losers.

RIL (Rs 53.26 cr), YES Bank (Rs 51.72 cr) and Axis Bank (Rs 43.26 cr) were the top three stocks on the BSE in terms of volume toppers.

VK Sharma, head Private Client Group and Capital Market Strategy at HDFC Securities said, "The Nifty carried on from where it closed Friday, to edge higher by 0.43% to 10, 739. It was the third day of gains for the Nifty. The gains came on the back of the RBI Circular Friday evening liberalizing the norms for external commercial borrowing (ECB).  This would will allow Indian companies to access cheaper funds from overseas markets. RBI has permitted Housing Finance Companies and port trust to avail of ECB. These relaxed norms are likely to cool-off short term yields significantly in our markets.  Bond Yields are likely to soften  when the markets open Wednesday. Equity markets are likely to open higher Wednesday, other things being equal."

The Reliance Industries stock was among the top losers on Sensex and Nifty today after the Mukesh Ambani-led firm logged its highest-ever quarterly profit of Rs 9,435 crore in Q4, beating street estimates. The stock closed 3.18% or 31 points lower at 963.10 level on BSE.  The stock opened at 984 level and hit an intra day high of 992 level.

"We're following the global trend, and there has not been any major disappointment in the domestic earnings season," said Sumit Pokharna, deputy vice president, Kotak Securities.

While the MidCap index rose 0.56% to 17012, the BSE smallcap index  closed 0.89% higher at 18,401.

Capital goods (1.48%), IT (1.44%) and banking stocks (0.43%) the major gainers among the BSE sectoral indexes. Sentiment got a boost after the RBI on Friday further liberalised External Commercial Borrowing (ECB) policy by including more sectors in the window, in a bid to facilitate easy access to overseas funds for India Inc, brokers said.

Market breadth was positive with 1404 stocks rising against 1254 closing lower on the BSE.

Domestic financial institutions continued to hold ground and retail investors built up more bets amid a firming Asian trend, said marketmen. Domestic institutional investors (DIIs) picked up shares worth a net Rs 633.71 crore on Friday. Foreign portfolio investors (FPIs) exited, pulling out shares amounting to Rs 759.21 crore on a net basis, showed provisional data.

Markets will remain shut tomorrow on account of "Maharashtra Day".

Global markets

Shares were higher in Europe and Asia on Monday following the release of better-than-expected manufacturing data for China. Markets were closed in Japan and mainland China.

Germany's DAX rose 0.2 percent to 12,608.52 and the CAC 40 of France added 0.2 percent to 5,494.72. The FTSE 100 of Britain climbed 0.4 percent to 7,533.71. The future for the Dow Jones industrial average was up 0.4 percent to 24,372.00 and the future for the S&P 500 advanced 0.3 percent to 2,878.70.

The Hang Seng in Hong Kong climbed 1.7 percent to 30,808.45 and South Korea's Kospi added 0.9 percent to 2,515.38. The S&P ASX 200 in Australia added 0.5 percent to 5,982.70. Shares also rose in Taiwan, Singapore, Thailand and Indonesia. Markets in mainland China and Japan were closed for holidays.

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