Markets open higher on Monday tracking positive global cues
CHENNAI: Indian equity benchmarks opened on a strong note on Monday, buoyed by optimistic global cues as investors turned their focus to the high-stakes trade talks between the US and China scheduled in London today. The upbeat sentiment was mirrored across sectors and market segments.
BSE Sensex jumped 422 points, or 0.51%, to 82,611, and Nifty50 rose 136 points, or 0.54%, to 25,139
Market Drivers
Positive global sentiment from expected progress in US-China trade negotiations. Gains in heavyweight stocks, led by banking and IT majors, and continued traction in broader market indices and sectoral performance also lifted the indices.
The stocks led gains on the Nifty index, climbing up to 2% in the opening trade included Kotak Mahindra Bank, Axis Bank, Tata Motors, Jio Financial Services, Shriram Finance, Infosys, Maruti Suzuki, Hero MotoCorp, HCL Technologies, Tech Mahindra
Broader Markets and Sectoral Highlights
Nifty MidCap 100 was up 0.54%, while the Nifty SmallCap 100: +0.60%. On the sectoral front, Nifty Bank Index hit a record high at 57,049.50, up 0.5%, Nifty PSU Bank rose 1%, Nifty IT was up 0.8%, Nifty Auto shot up 0.8%, and Nifty Private Bank increased 0.5%.
Buzzing stocks today were MCX, which was up 2.8% after SEBI approval to it launch of electricity derivatives, IEX that went up 3.7% on strong sectoral sentiment, and Suzlon Energy, which increased 1% following a large block deal involving 94.4 million shares.
IPO Watch
Ganga Bath Fittings IPO's allotment is to be finalised today, and Sacheerome IPO opens for subscription today.
Many analysts believe that with global tailwinds and strong domestic fundamentals, Indian markets appear poised to maintain momentum. However, attention will remain on the outcome of US-China trade talks and domestic macro data through the week, they say.
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Indian Express
22 minutes ago
- Indian Express
Equity mutual fund inflows decline 22% to 13-month low of Rs 19,013.12 crore in May: AMFI data
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Time of India
27 minutes ago
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US Stock markets today: Wall Street futures inched up before opening bell, US-China trade talks enter 2nd day
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27 minutes ago
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We're not erratic or volatile, Germany reliable partner for Indian students: Ambassador Ackermann
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"In the light of... with student admissions and student visa procedures in some countries, it is maybe a good time to state that Germany is eager and happy to receive Indian students," he said in his opening remarks. He mentioned multiple times that his country has been a "reliable partner" for Indian students, and even added that "we don't check social media before you come". "We feel that Germany has been a reliable partner for Indian students for a long, long time. And, will remain so. We are interested in Indian talent, we are interested in Indian brains. We are interested in those Indians who really want to achieve something, and Germany will always be a partner for such people. So, we are not erratic, we are not volatile, we are very, very steady," Ackermann said. He also underlined that Germany offers first-class education, and those are willing to study hard to achieve it, are "welcome" and can "count on us". "And, we are eager on having talented young Indians coming to Germany," the envoy added. German universities and German research institutions have made "extremely good experiences" with students, and it has been seen that the number of Indian students is increasing every year in universities, and universities of applied sciences have also accepted a growing number of Indian students, the ambassador said. "We are talking about 50,000 plus Indian students in Germany, and our experience is that number will rise. We already now feel that more Indian students.. and that is certainly in the context of difficulty they face in other countries, and that more Indian students are interested to join German universities and German research institutions," the envoy said. Representatives of various top German universities such as Cologne University, University of Gottingen, Freie Universitaet Berlin, and research institute like the Max Planck Society and Fraunhofer were also present on the occasion. Later in an interaction with PTI Videos, the envoy said academic cooperation is a key pillar in the India-German bilateral ties. "We are searching Indian talent, and this is a time where many Indian students who had ideas to go elsewhere, now have second thoughts, and don't get where they really... wanted to go. So, what I am saying is, look at Germany, if you want a first class education, in many, many areas, above all in STEM area, German universities offer a broad range of possibilities, English-taught possibilities, with the clear perspective to join labour market in Germany after that," he said. "So, we have been a reliable partner for India in the last couple of decades... but what is important for me is to say that we want the smartest, the brightest from India," Ackermann told PTI. The envoy said the "offer is on the table", there is a clear growing interest. "Also, we want to encourage every student to individually search for universities, avoiding agents who will offer you a complete package, which sometimes is not a satisfaction," he said. Katja Lasch, Director, DAAD Regional Office, New Delhi, also interacted with the reporters. DAAD German Academic Exchange Service is marking its centenary this year, while its India office was set up 65 years ago. She said "applications to universities" have increased by over 30 per cent in the last couple of months, compared to the last academic year, citing data from DAAD. Lasch said there are about 425 universities, out of which there are 305 public universities. Germany has about 400,000 international students and it offers 2,300 study programmes in English language, she added. And, the country is among the top five destinations for Indian students along with the US, Canada, the UK, Australia. Ackermann said German education system is "widely a public good", which means most universities don't charge for studies and if they charge, the state-run universities, it's a small fee, compared to fees charged by universities in Anglo-Saxon countries. "So, its merit-based not money-based approach," he added. On a query on German visa issues, the envoy said, "There is no backlog anymore . Two years ago, we had a huge backlog.. we changed our system." Asked about the new citizenship rules by the German government, the ambassador clarified that "the government has not make a U-turn on citizenship, there was a very short way to citizenship within three years, this has been blocked now. Now, it is five years".
