Indian benchmark indices, the Sensex and the Nifty, closed at over four-month highs, following global cues as Donald Trump and Kim Jong-un successfully concluded negotiations for the complete denuclearisation of North Korea.

Share Market Live

NSE

In what looked a steady day of the trading session, the Sensex gained 209 points to close higher at 35,693 and the Nifty advancing 56 points to 10,843.

The Midcaps have outperformed with the leading Index edging 160 points higher to 18,985. The banking Index was not far behind. The Nifty Bank gained 1545 points to 26,607, led by SBI, IndusInd Bank and Kotak Mahindra Bank.

Besides Financials, Reliance was a major Index gainer, with the stock contributing 12 points to Index gains. Telecom had a rough run today, with Bharti Airtel slipping more than 2% to close below the 50-day moving average of 387.

Amongst the midcaps, Divi’s Labs gained 4%. And, the market veteran Madhu Kela believes Divi’s is a secular story.

Market also got a boost from the historic summit of Trump and Kim Jong-un, which saw both the leaders signing for ‘complete denuclearisation’ by North Korea. Trump agreed to lift sanctions, but it would happen once nukes are not a factor.

In the futures market, while Put options of 10,800 & 10,700 calls saw premiums slipping 26% and 28% respectively, the call options of 10,900 and 11,00 saw their premiums moving 35% and 34% respectively. Nifty June Futures closed at a discount of 6 points against Monday’s level of 1.15 points.

On the global front, most major Asian markets closed higher. Japan's Nikkei 225 rose 0.3% to close at 22,878.35, but was off a session high of 23,011.57.

The food, retailer and land transport subindexes were among the best-performing sectors, all rising more than 1%. South Korea's Kospi slipped 0.1% to close at 2,468.83 in what was a choppy session, with the index trading both above and below the flat line through the day.

Other markets in the region were little changed, with Australia's S&P/ASX 200 tacking on 0.1% to end at 6,054. On the mainland, the benchmark Shanghai composite gained 0.9% to finish at 3,081 and the smaller Shenzhen composite rose by more than 1%.

First Published:Jun 12, 2018 4:04 PM IST