Sensex, Nifty hit over two-week high on oil slide, tech boost

Reuters | | Updated on: Jun 27, 2022

NSE Nifty 50 rose 1.18 per cent to 15,884.95, while BSE Sensex climbed 1.18 per cent to 53,351.16 in early trade

Benchmark indices touched a more than two-week high on Monday and were set to post a third straight session of gains, lifted by technology stocks and as easing oil prices tempered inflation fears.

The NSE Nifty 50 index rose 1.18 per cent to 15,884.95, and the S&P BSE Sensex climbed 1.18 per cent to 53,351.16 in early trade.

Broader Asian peers also gained on Monday after a strong close on Wall Street last week, as oil slid on demand worries, easing fears of prolonged inflation and aggressive Federal Reserve tightening.

The Nifty IT index was the best performing sub-index in Mumbai, jumping nearly 3 per cent to its highest level since June 10.

Food delivery firm Zomato rose as much as 3.1 per cent to a more than three-week high as the company said it would buy local grocery-delivery start-up Blinkit for ₹4,447 crore ($567.94 million) in an all-stock deal.

Published on June 27, 2022
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