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Nifty PSU Bank index post sharpest single-day gain in past one year, surging 8 per cent led by Oriental Bank of Commerce and Canara Bank.

SMEs, banks, foreign exchange, markets, forex, small and medium price industries,

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		The benchmark indices settled over 2&nbsp;per cent higher on Monday, as investors lauded a solid set of September-quarter earnings in large-cap companies such as ICICI Bank and Dr. Reddy&rsquo;s Laboratories.<br />
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		The S&P BSE Sensex reclaimed the 34,000-mark, ending at 34,067, up 718 points, while the broader Nifty50 index settled at 10,251, up 221 points.<br />
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		Among key stocks, ICICI Bank settled over 11&nbsp;per cent to Rs&nbsp;351.45 on the National Stock Exchange (NSE) after&nbsp;the private sector lender reported better-than-expected results for the September quarter of FY19.<br />
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		Divi&rsquo;s Laboratories surged 15 per cent to end at Rs 1,444.20 on the NSE after the it reported a healthy 92% year-on-year (Y-o-Y) jump in its net profit at Rs 3.98 billion in September quarter (Q2FY19), on back of strong revenue growth. The company had a profit of Rs 2.07 billion in the year-ago quarter.<br />
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		In sectoral indices, Nifty PSU Bank index post sharpest single-day gain in past one year, surging 8 per cent after a media report suggested that the government expects some changes in the prompt corrective action (PCA) framework prescribed by the Reserve Bank of India (RBI) to enable more sanction of credit by PSU banks.<br />
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		The Nifty Pharma index rose 5.2 per cent led by gains in Divi&#39;s Labs and Dr. Reddy&#39;s Laboratories.&nbsp;Shares of Dr Reddy&rsquo;s have gained 5.3% to end at Rs 2,531.65 on the NSE after the company reported a good operational performance in September quarter (Q2FY19), on account of lower R&D, higher other income, financial income, and lower tax.</div>
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		<strong>Global Markets</strong></div>
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		Worries about China&rsquo;s slowing economy spread across Asian markets on Monday with US stock futures turning down and Chinese shares in the red as concerns about US corporate earnings and global growth continued to hit sentiment.</div>
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		Japan&rsquo;s Nikkei slipped 0.2 per cent, having climbed 1 per cent earlier while South Korea&rsquo;s KOSPI stumbled 1.6 per cent. Shanghai&rsquo;s SSE Composite faltered 2.5 per cent. Hong Kong&rsquo;s Hang Seng index also turned red, leaving MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan mostly flat after rising over 0.5 per cent earlier in the day.</div>
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	<em>(with Reuters input)</em></div>

MARKET WRAP: Sensex surges 718 pts, reclaims 34,000-mark; PSU banks rally

Business Standard

MARKET WRAP: Sensex surges 718 pts, reclaims 34,000-mark; PSU banks rally | News on Markets - Business Standard

<strong>Rupee&nbsp;slips Rs 20 paise to end at 73.47/$</strong><br />
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The rupee depreciated by 20 paise to close at 73.47 against the US dollar on Friday amid a strengthening greenback and sustained foreign capital outflows.

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	<strong>SGX Nifty</strong></div>
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	Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 56 points or 0.56 per cent. Nifty futures were trading around 10,103-level on the Singaporean Exchange</div>

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	<strong>Asian shares bounce but sentiment remains fragile</strong></div>
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	Asian shares bounced from last week&rsquo;s steep declines on Monday, though sentiment remained fragile amid heightened worries about corporate earnings and a slowdown in global economic growth.</div>
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	MSCI&rsquo;s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent after sliding almost 4 per cent last week. Japan&#39;s Nikkei rallied 1 per cent while Australian shares climbed 0.8 per cent. South Korea&#39;s KOSPI added 0.7 per cent.</div>

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	<strong>S&amp;P 500 ends at lowest since May as tech, internet stocks tumble</strong></div>
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	The S&amp;P 500 ended at its lowest level since early May on Friday and flirted with correction territory after technology and internet shares sold off further, capping another volatile week for US stocks. During the session, the benchmark S&amp;P 500 fell more than 10 per cent from its Sept. 20 record closing high, but pared losses to end above that level. A finish of 10 percent or more below its all-time closing high would confirm a correction.</div>
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	The Dow Jones Industrial Average fell 296.24 points, or 1.19 per cent, to 24,688.31, the S&amp;P 500 lost 46.88 points, or 1.73 per cent, to 2,658.69 the Nasdaq Composite dropped 151.12 points, or 2.07 per cent, to 7,167.21.</div>

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