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MARKET WRAP: Sensex up 420 pts as Infosys rallies 10%, Nifty ends at 10,740
All that happened in the markets today
Benchmark indices ended Thursday's volatile session on a positive territory, led by a rally in Infosys and select financial counters.
The S&P BSE Sensex ended 420 points or over 1 per cent higher at 36,471.68 levels. Of 30 constituents, 19 ended in the green and rest 11 in the red. Infosys (up 9.5 per cent) ended as the biggest gainer on the index after the company posted better-than-expected numbers for the June quarter of the fiscal year 2020-21 (Q1FY21). The stock was also the major contributor to the Sensex's gains.
NSE's Nifty ended at 10,740, up 122 points, or over 1 per cent.
The trend among Nifty sectoral indices was positive. Barring Nifty Media, all the other indices advanced. Nifty IT ended as the biggest gainer - up over 2.8 per cent to 16,926 levels.
In the broader market, the S&P BSE MidCap index ended 0.71 per cent higher and the SmallCap index ended flat with the negative bias.
Emerging market stocks fell to a one-week low on Thursday as tensions between the United States and China and rising coronavirus cases around the world weighed on investor sentiment, while a stronger dollar hit risky currencies.
A broad dispute between Washington and Beijing over the control of advanced technologies and the protection of civil liberties in Hong Kong continued to hit risk appetite.
The MSCI’s index for developing world stocks dropped 1.6 per cent, after rising in the previous session.
In commodities, oil prices fell after OPEC and other producers including Russia agreed to ease record supply curbs from August, though the drop was cushioned by tightening global inventories as economic activity picks up.
(With inputs from Reuters)