Sensex jumps 409 points as banking, metal stocks rally
Jul 09, 2020
Mumbai (Maharashtra) [India], July 9 : Equity benchmark indices extended early gains in the afternoon session on Thursday after Prime Minister Narendra Modi said India is seeing green shoots of economic recovery.
"The story of global revival will have India playing a leading role," he said at the India Global Week Summit.
The BSE S&P Sensex closed 409 points or 1.12 per cent higher at 36,738 while the Nifty 50 ticked up by 108 points or 1.01 per cent at 10,813.
Except for Nifty FMCG which slipped by 0.3 per cent, all sectoral indices at the National Stock Exchange were in the green with Nifty metal up by 1.9 per cent, financial service by 1.6 per cent, PSU bank by 1.2 per cent and private bank by 1.1 per cent.
Among stocks, Hindalco gained by 6.6 per cent to close at Rs 165.20 per share while Tata Steel moved up by 3.2 per cent to Rs 345 per unit.
Home loan lender HDFC added gains of 4.2 per cent, State Bank of India rose by 4.1 per cent and IndusInd Bank was up by 2.1 per cent.
The other prominent gainers were Bajaj Finance, Bajaj Finserv, GAIL, HCL Technologies and Mahindra & Mahindra.
However, those in the negative zone were Coal India, ONGC, Hero MotoCorp, Maruti Suzuki, Hindustan Lever and Britannia.
Meanwhile, Asian equity markets were up as investors tried to look beyond gathering US-China tension and renewed coronavirus lockdowns.
Japan's Nikkei edged ahead by 0.4 per cent and Shanghai Composite 1.39 per cent. Hong Kong's Hang Seng showed gains of 0.31 per cent.
