Sensex gains 209 points as global mood calms, Hindalco up 10 pc
Jul 29, 2021
Mumbai (Maharashtra) [India], July 29 : Equity benchmark indices closed in the green zone on Thursday as global mood stabilised following reports that the Chinese securities regulator has stepped in to assuage investor concerns over tech crackdown.
The market mood was somewhat cheerful after US Federal Reserve Chair Jerome Powell kept interest rates unchanged and said the US central bank wishes to see 'some strong job numbers' in coming months before tapering the bond-buying programme.
At the closing bell, the BSE S&P Sensex was up by 209 points or 0.4 per cent at 52,653 while the Nifty 50 moved up by 69 points or 0.44 per cent to 15,778.
Sectoral indices were mixed with Nifty metal surging by 5 per cent, realty by 1.6 per cent and IT by 1.4 per cent. But Nifty FMCG dipped by 1 per cent and auto by 0.4 per cent.
Among stocks, Hindalco jumped by over 10 per cent to wind up the day at Rs 458.65 per share. Tata Steel rose by 6.8 per cent and JSW Steel by 3.3 per cent.
The other prominent winners were State Bank of India, Bajaj Finserv, Tata Motors, HCL Technologies, Sun Pharma and Titan. However, Maruti Suzuki lost by 2.3 per cent to close the day at Rs 6,999 per share.
The other laggards in today's session were Bajaj Auto, Hero MotoCorp, Dr Reddy's, Hindustan Unilever, ITC and Cipla.
Meanwhile, Asian shares stabilised as China's Securities and Regulatory Commission (CSRC) on Wednesday night held a meeting with executives of top global investment banks with an aim to calm financial markets nerves.
The online meeting followed a brutal sell-off in shares of Chinese companies this week after investors were spooked by Beijing's rules published over the weekend that ban for-profit tutoring in core school subjects.
Hong Kong's Hang Seng surged by 3.3 per cent while Japan's Nikkei gained 0.73 per cent even as stocks saw their biggest weekly foreign money outflows in two months.
South Korea stocks were flat but moved up 0.18 per cent as investors awaited next catalyst.
