<p>Mumbai: Benchmark stock indices Sensex and Nifty closed with gains on Monday, tracking a firm trend in global markets amid hopes of a rate cut by the US Federal Reserve later this month.</p><p>The 30-share BSE Sensex edged higher by 76.54 points or 0.09 per cent to settle at 80,787.30 despite profit-booking by investors in the last hour of the session.</p><p>The barometer opened higher and later jumped 460.62 points or 0.57 per cent to a high of 81,171.38 as auto, oil and private bank shares advanced. However, selling in IT and FMCG shares trimmed gains at the fag-end.</p><p>The 50-share NSE Nifty ended marginally higher by 32.15 points or 0.13 per cent at 24,773.15.</p><p>Among Sensex firms, Tata Motors rose the most by 3.97 per cent. Mahindra & Mahindra jumped by 3.96 per cent. Maruti, Adani Ports, Bajaj Finance and UltraTech Cement were also among the gainers.</p>.Formalisation of India’s labour market on the rise, says Quess Corp report.<p>However, Trent declined 3.81 per cent. Asian Paints, HCL Tech, Tech Mahindra, L&T, TCS, Power Grid and Sun Pharma were also among the laggards.</p><p>"The domestic market failed to sustain its early gains as a late-session sell-off reflected the prevailing 'buy-on-dips, sell-on-rallies' strategy, highlighting investor caution. Auto and ancillary stocks continued to rally on expectations of demand recovery following GST rate cuts, while IT remained weak amid global uncertainties.</p><p>"Globally, sentiment improved after soft US jobs data raised hopes of a Fed rate cut in September," Vinod Nair, Head of Research, Geojit Investments Limited, said.</p><p>In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory.</p><p>Markets in Europe were trading higher. US markets ended lower on Friday.</p><p>The August non-farm payrolls report showed the American economy added just 22,000 jobs, while the unemployment rate rose to 4.3 per cent from 4.2 per cent.</p><p>This soft labour data has strengthened hopes of a rate cut by the US Fed.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,304.91 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,821.23 crore, according to exchange data.</p><p>Global oil benchmark Brent crude jumped 1.88 per cent to USD 66.73 a barrel.</p><p>On Friday, the Sensex ended lower by 7.25 points or 0.01 per cent at 80,710.76. The Nifty eked out gains of 6.70 points or 0.03 per cent to 24,741.</p>
<p>Mumbai: Benchmark stock indices Sensex and Nifty closed with gains on Monday, tracking a firm trend in global markets amid hopes of a rate cut by the US Federal Reserve later this month.</p><p>The 30-share BSE Sensex edged higher by 76.54 points or 0.09 per cent to settle at 80,787.30 despite profit-booking by investors in the last hour of the session.</p><p>The barometer opened higher and later jumped 460.62 points or 0.57 per cent to a high of 81,171.38 as auto, oil and private bank shares advanced. However, selling in IT and FMCG shares trimmed gains at the fag-end.</p><p>The 50-share NSE Nifty ended marginally higher by 32.15 points or 0.13 per cent at 24,773.15.</p><p>Among Sensex firms, Tata Motors rose the most by 3.97 per cent. Mahindra & Mahindra jumped by 3.96 per cent. Maruti, Adani Ports, Bajaj Finance and UltraTech Cement were also among the gainers.</p>.Formalisation of India’s labour market on the rise, says Quess Corp report.<p>However, Trent declined 3.81 per cent. Asian Paints, HCL Tech, Tech Mahindra, L&T, TCS, Power Grid and Sun Pharma were also among the laggards.</p><p>"The domestic market failed to sustain its early gains as a late-session sell-off reflected the prevailing 'buy-on-dips, sell-on-rallies' strategy, highlighting investor caution. Auto and ancillary stocks continued to rally on expectations of demand recovery following GST rate cuts, while IT remained weak amid global uncertainties.</p><p>"Globally, sentiment improved after soft US jobs data raised hopes of a Fed rate cut in September," Vinod Nair, Head of Research, Geojit Investments Limited, said.</p><p>In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in positive territory.</p><p>Markets in Europe were trading higher. US markets ended lower on Friday.</p><p>The August non-farm payrolls report showed the American economy added just 22,000 jobs, while the unemployment rate rose to 4.3 per cent from 4.2 per cent.</p><p>This soft labour data has strengthened hopes of a rate cut by the US Fed.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,304.91 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,821.23 crore, according to exchange data.</p><p>Global oil benchmark Brent crude jumped 1.88 per cent to USD 66.73 a barrel.</p><p>On Friday, the Sensex ended lower by 7.25 points or 0.01 per cent at 80,710.76. The Nifty eked out gains of 6.70 points or 0.03 per cent to 24,741.</p>