Stock Market LIVE: Indices in green; Nifty tops 17,500; Coal India, M&M zoom

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Stock Market LIVE: Indices in green; Nifty tops 17,500; Coal India, M&M zoom

PSU Bank index drags in an otherwise strong market; down by 0.5%

Multibagger Adani Group stock extends rally, hits record high.

Stock Market Today: Strong Job Report hints at aggressive Fed policy   

 Indices started the day flat but are now trading in green. Sensex and Nifty have given up on day’s high and are up around 0.6%. Auto and Private Bank stocks are brisk, whereas IT stocks are dull. Asian markets are mixed following a strong job report in the US on Friday that hints at an aggressive future monetary policy.

A stronger-than-expected US jobs report on Friday raised the prospect of the Fed maintaining its aggressive monetary policy. This factor played a role in Wall Street ending lower on Friday and the Asian markets following the lead. Nikkei and Chinese indices opened in red on Monday.

IDFC, Indian Bank, Yes Bank put SpiceJet loans on high-risk: Report

Private lenders IDFC First Bank and Yes Bank and state-owned Indian Bank have put their loans to SpiceJet Ltd in the high-risk category, in the latest setback for the airline, people with knowledge of the matter said.The lenders are concerned about SpiceJet’s cash flows and have held discussions seeking assurances from the Indian budget carrier, as it is behind on payments to some aircraft lessors, the sources said.SpiceJet said that no bank has put its account on high alert.

“Loans are being serviced as per the agreed terms. We are not aware of any bank having any ‘concern’ nor has there been any communication regarding the same to SpiceJet,” a company spokesperson told Reuters in an email.

Gold gains ₹97; silver jumps ₹527

Gold in the national capital on Monday rose by ₹97 to ₹52,490 per 10 gram amid rise in international precious metal prices along with adepreciation in rupee, according to HDFC Securities.

The yellow metal had closed at ₹52,393 per 10 gram in the previous trade. Silver also jumped by ₹527 to ₹58,465 per kg from ₹57,938 per kg in the previous trade.

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