Indices end nearly 1% higher, Nifty above 10,550; realty, auto stocks surge

The domestic indices ended nearly 1% higher on Monday taking cues from its Asian counterparts.

The S&P BSE Sensex ended at 34,446, up 304 points while the broader Nifty50 index settled at 10,583, up 92 points.

Among sectoral indices, the Nifty Realty index surged over 3% on Monday led by a rise in shares of Oberoi Realty and Prestige Estates Projects and Nifty Auto index ended over 2% led by Maruti Suzuki India and Tata Motors.

Later this week, the market participants will look forward to key economic data such as Nikkei Markit Manufacturing Purchasing Managers Index (PMI), Fiscal Deficit and Gross Domestic Product (GDP).

In the global markets, Asian shares made guarded gains on Monday as investors braced for an event-packed week headlined by US inflation data and the first House testimony by the new head of the Federal Reserve.

MSCI’s broadest index of Asia-Pacific shares outside Japan crept up 0.6 per cent, with most bourses in the green.

Japan’s Nikkei led with an increase of 1.3 per cent, while Chinese blue chips added 0.7 per cent.

The gains followed Wall Street, where the Dow ended Friday up by 1.39 per cent, while the S&P 500 gained 1.60 per cent and the Nasdaq 1.77 per cent..business-standard