Equity indices close 1 pc higher, SBI up 8.8 pc after Q4 results
Jun 05, 2020
Mumbai (Maharashtra) [India], June 5 : Equity benchmark indices closed higher on Friday led by gains in PSU banks, metal and auto stocks amid uprise in Asian peers.
The BSE S&P Sensex closed 307 points or 0.9 per cent higher at 34,287 while the Nifty 50 moved up by 113 points or 1.13 per cent at 10,142.
Except for Nifty FMCG, all sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank up by 6.8 per cent, metal by 3.9 per cent, metal by 3.8 per cent and financial service by 2.2 per cent.
Among stocks, Tata Motors saw a phenomenal jump of 13.65 per cent to close the day at Rs 111.95 per share. State Bank of India was up by 8.7 per cent at Rs 189.25 per unit after posting a four-fold jump in Q4 net profit at Rs 3,581 crore.
Aviation stocks gained further ground on likely resumption of international flights in July. Domestic flight operations resumed on May 25 after over two months of shutdown due to coronavirus. SpiceJet gained 9.9 per cent and InterGlobe Aviation by 6.4 per cent.
Metal majors Tata Steel and Hindalco ticked up by 6.1 per cent and 5 per cent respectively while Bharti Infratel, IndianOil Corporation, UPL, Grasim, Bajaj Finance and Bharat Petroleum Corporation traded between 8.3 and 3.8 per cent.
Reliance Industries Ltd (RIL) share price touched a record high of Rs 1,602 in the morning session, rising 1.4 per cent after the announcement that Abu Dhabi fund Mubadala is going to invest Rs 9,093 crore in its digital arm Jio Platforms. By day-end, it was flat at Rs 1,579.20.
However, IT stocks lost. Tata Consultancy Services, HCL Technologies Infosys and Wipro were among the losers. FMCG majors Hindustan Lever and Nestle India were also in the red.
Meanwhile, Asian stocks were in the green with investors hoping for a global economic rebound. Japan's Nikkei was up by 0.74 per cent, Hong Kong's Hang Seng by 1.66 per cent and South Korea's Kospi by 1.43 per cent.
