Equity indices edge higher, PSU banks and metals gain
Aug 21, 2020
Mumbai (Maharashtra) [India], Aug 21 : Equity benchmark indices gained during early hours on Friday tracking gains on Wall Street overnight and an uptrend in other Asian markets.
At 10:15 am, the BSE S&P Sensex was up by 247 points or 0.65 per cent at 38,468 while the Nifty 50 gained by 83 points or 0.74 per cent at 11,396.
All sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank ticking up by 2.4 per cent, metal by 1.5 per cent and realty by 1.3 per cent.
Among stocks, State Bank of India advanced by 2.9 per cent to Rs 200.55 per share while HDFC Bank was up by 1.8 per cent.
Tata Steel and Hindalco were up by 2.1 per cent and 1.4 per cent respectively while auto major Eicher Motors and Tata Motors accelerated by 1.4 per cent each.
The other prominent gainers were Power Grid Corporation which moved up by 3.2 per cent, Grasim, UPL and Sun Pharma. However, Bharti Airtel, Zee Entertainment and HCL Technologies traded with a negative bias.
Meanwhile, Asia's stock markets bounced following Wall Street's lead overnight as another surge in tech stocks took the Nasdaq to a new all-time closing high.
MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.6 per cent. Japan's Nikkei edged up by 0.3 per cent.
