Stocks

Indices rally over 1 per cent on strong global cues, Covid-19 vaccine hopes

Our Bureau Chenna | Updated on July 06, 2020 Published on July 06, 2020

Nifty 50 settles below 10,800 mark

Equity benchmark Sensex settled 465 points higher today after taking cues from  strong global markets. The Japan’s Nikkei index traded higher by 1.80 per cent, while the Hang Seng index advanced nearly 4 per cent today.

Domestic indices rallied on positive sentiment led by hopes of a COVID-19 vaccine, improving macroeconomic conditions and massive buying-interest in global benchmarks despite surging coronavirus cases across the world

The BSE benchmark index Sensex opened at 36,313.46, touched an intraday high  of 36,661.66, and finally settled higher by 465.86 points, or 1.29%, at  36,487.28.

Similarly, On the NSE, the Nifty 50 too ended higher by 156.30 points, or 1.47 per cent, at 10,763.65.

Prominent gainers that drove the markets higher were M&M, Bajaj Finance,  Reliance, Maruti, HDFC Bank, TCS, Tata Steel and Tech Mahindra, which rose  between 2.50 per cent to 7 per cent.

However, a few notable losers were Bajaj Auto, HDFC, Hindustan Lever and  Bharti Airtel stocks which fell up to 1 per cent on moderate sell-off in those  counters.

PTI adds:

Foreign institutional investors turned net buyers in the capital market on Friday, purchasing equities worth Rs 857.29 crore, provisional exchange data showed.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul soared up to 4 per cent on hopes of more government stimulus to support economic recovery.

 

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Published on July 06, 2020
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