Indian stock markets closed with gains on Monday. The increases of Reliance Industries, Adani Ports, Special Economic Zone, and Hindustan Unilever supported the stock market earlier.
The Nifty settled with a rise of 0.40% at 15,746.50. Meanwhile, Sensex added 0.44% to 52,574.46.
Investors will have their eye on the conglomerate’s annual general meeting, which is scheduled on Thursday.
Demand for consumer goods is forecast to expand as Indian states keep easing pandemic-induced lockdowns.
Hindustan Unilever, the consumer giant, added 1.3% and marked its fifth straight session of profits.
As for the Adani Ports, India’s largest private multi-port operator hiked by 5.3%, registering its second straight session of gains. Last week, the company experienced a plunge of more than 17%. It was triggered by a report stating freezing three foreign investor funds’ accounts that own stocks in Adani Group companies.
Southeast Asian shares settled in the red
The Southeast Asian stock markets finished their sessions in the red on Monday. It resulted from the Federal Reserve’s statements about earlier than expected rise in the interest rates.
Singapore stock market index declined by 26.29 points or 0.84%, and the Straits Times composite indicator remained at 3,117.87 units.
The Jakarta stock market dipped by 10.87 integers or 0.18%, and the JCI index finished with 5,996.25 units.
In Malaysia, the Kuala Lumpur Stock Exchange dropped by 16.81 points, 1.06%, and the selective KLCI ended at 1,572.24 units.
The Bangkok stock lost 11.85 integers, 0.73%, and the SET index ended at 1,601.13 units.
The Manila Stock Exchange sank by 24.21 integers, 0.35%, and the PSEi composite index settled at 6,827.17 points.
The VN Index of the Ho Chi Minh stock in Vietnam fell by 5.14 integers or 0.37%, closing at 1,372.63 units.
Hong Kong Stocks had a negative day
The Hang Seng ended Monday’s session with the most considerable losses in two weeks. The selective dropped by 1.08% or 312.27 points to 28,489. At the same time, the Hang Seng China Enterprises plummeted by 0.93%.
All the sub-indices closed with losses. HSBC experienced the biggest hit, diving by 3.5%. It was followed by Hang Seng Bank, its local subsidiary, which ended with a loss of 3.26%. As for the real estate sector, the most significant declines were made by Longfor Group, slumping by 4.35%.
Technological companies had a more upbeat session. AAC Technologies advanced by 5.15%, and Xinyi Solar added 4.55%.
The business volume of the session equaled 157.300 million Hong Kong dollars (20.258 million US dollars).
COMMENTS