22.4 C
New York
Thursday, July 9, 2020

Sensex jumps 450 points, Nifty tops 10,350 amid firm global cues

In the 30-share pack Sensex, Bajaj twins were the biggest gainers, up about 7 per cent each.
Continue reading on Economic TimesNEW DELHI: Domestic benchmark indices continued their gaining momentum in Monday’s session, following the global trend in equities. However, gains were capped by fast-rising Covid-19 cases in India and abroad that dented hopes of a quick recovery in economic conditions.

Total number of Covid-19 patients in India reached over 4.2 lakh while fatalities climbed above 13,700 levels. The World Health Organization reported a record increase in global coronavirus cases on Sunday, with the total rising by 183,020 in a 24-hour period.

At 09.50 am, BSE flagship Sensex was up 480 points or 1.41 per cent to 35,211 while NSE benchmark Nifty gained 137 points or 1.12 per cent to 10,381. Pharma, banks and media stocks were in high demand while IT stocks were under selling pressure.

In the 30-share pack Sensex, Bajaj twins were the biggest gainers, up about 7 per cent each, followed by IndusInd Bank, NTPC, Bajaj Auto and Axis Bank that gained in the range of 3-4 per cent.

TCS was the biggest loser in the pack, down 0.63 per cent followed by M&M, Ultratech Cements, Infosys and ONGC.

Broader market indices were faring in line with their headline peers as Nifty Smallcap gained 1.55 per cent while Nifty Midcap added 1.10 per cent. Broadest index on NSE, Nifty 500 was up 0.99 per cent.

Barring Nifty IT that slipped 0.12 per cent, all sectoral indices were trading with gains on NSE. Nifty Pharma was the biggest gainer, up 2.07 per cent while Nifty PSU Bank and Nifty Media also gained about 2 per cent each.

Globally, US stock futures erased losses and Asian stocks held flat trying to shake off worries that rising coronavirus cases in the United States could scupper a quick economic rebound from the massive downturn triggered by the pandemic.

US S&P 500 futures rose 0.4 per cent, having erased early losses of 1.05 per cent while Japan’s Nikkei also eked out gains of 0.1 per cent, similarly recovering from early losses.

MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat while mainland Chinese stocks ticked up 0.3 per cent to 3-1/2-month highs.

After a brutal sell-off earlier this year, share prices had risen globally over the past three months, helped by massive stimulus around the world and hopes the worst of the pandemic was over.

- Advertisment -

Most Popular

Global Filament Tapes Market 2020 Top Key Players | 3M, Intertape, Tesa, Canadian, Saint-G

The report on the Global Filament Tapes Market features detailed insights and deep research. The report introduces the important factors which driving the growth of the global Filament Tapes market, untapped opportunities for the manufacturers, current ...

Trending: GIS Controller Market Grow at Exceptional Rate During 2020 to 2026 -QYResearch|

LOS ANGELES, United States: QY Research has recently published a report, titled “Global GIS Controller Market Size, Status and Forecast 2020-2026“. The research report gives the potential headway openings that prevails in the global market. The report is ...

Double Sided Tape Market: Growing Demand and Growth Opportunity |Shurtape Technologies, LL

The Double Sided Tape Market promotional report lists and studies the leading competitors, also provides the insights with strategic industry analysis of the key factors influencing the market dynamics. This report comprises professional and in-depth study on ...

Cloud Infrastructure-as-a-Service (IaaS) Market to Eyewitness Massive Growth by 2025: Lead

Our analysts monitoring the situation around the Globe explain that after COVID-19 crisis the market will generate remunerative prospects for producers. The goal of the report is to provide a further illustration of the current scenario, economic slowdown and ...

Recent Comments

%d bloggers like this: