Sensex edges 290 points higher, IndusInd Bank up 10 pc
Jun 10, 2020
Mumbai (Maharashtra) [India], June 10 : Banking and financial scrips lifted up equity benchmark indices on Wednesday while investors globally awaited the outcome of a Federal Reserve meeting expected to shed light on the state of US economy and potential further stimulus measures.
Domestically, however, the number of coronavirus infections continued to rise across the country.
The BSE S&P Sensex closed 290 points or 0.86 per cent higher at 34,247 while the Nifty 50 edged higher by 70 points or 0.69 per cent at 10,116.
Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank up by 3.5 per cent, private bank by 2 per cent realty by 1.9 per cent and financial service by 1.1 per cent.
Among stocks, IndusInd Bank was up by 9.99 per cent to Rs 510.25 per share. Axis Bank gained by 2.8 per cent, Kotak Mahindra Bank by 2.6 per cent, State Bank of India by 2.3 per cent and ICICI Bank by 2.2 per cent.
Index heavyweight Reliance Industries closed 2.4 per cent to Rs 1,575 per share while home loan lender HDFC ticked up by 2.1 per cent to Rs 1,810.55 per share. The other prominent gainers were Hindalco and Tata Consultancy Services.
However, Hero MotoCorp slipped by 3.4 per cent a day after the company reported Q4 FY20 standalone profit of Rs 621 crore, down 15 per cent from Q4 FY19. GAIL, ONGC, Coal India, Bajaj Auto, Titan, Tata Steel and Britannia too traded with a negative bias.
Meanwhile, Asian stock markets gained for the 10th consecutive session. Japan's Nikkei rose by 0.15 per cent while South Korea's Kospi crawled up by 0.31 per cent. But Hong Kong's Hang Seng was down marginally by 0.03 per cent.
