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MARKET WRAP: Indices rally for 5th straight day, Sensex ends 187 pts higher

All that happened in the markets today

Markets | Coronavirus | Shriram Transport

SI Reporter  | New delhi 


Extending its gaining streak into the fifth straight session, the domestic stock market ended in the green on Tuesday, supported by buying in financial and IT counters. 

The S&P BSE Sensex ended at 36,675, up 187 points or 0.51 per cent with Bajaj Finance (up around 8 per cent) being the top gainer and Power Grid (down 3 per cent) the biggest loser.

NSE's Nifty closed at 10,799.65 points, up 36 points or 0.33 per cent.

Financial stocks rallied up to 20 per cent on the BSE after Bajaj Finance said its assets under management (AUM) under moratorium declined from 27 per cent, at the end of April 2020, to about 15.5 per cent at the end of June 2020. Bandhan Bank, too, reported healthy loan and deposit growth in the April-June quarter on a yearly basis despite nationwide Covid-19-induced lockdown. READ MORE
Shares of IT companies also gained in the trade ahead of the announcement of their June quarter (Q1FY20) results. will kickoff the earnings season by announcing its numbers on Thursday, July 9. The Nifty IT index rose over 2 per cent to 15,785 levels. 

In the broader market, the S&P BSE MidCap index gained 0.58 per cent while the S&P BSE SmallCap index added 0.57 per cent.

Global stocks

The Chinese share market extended its positive run on Tuesday, in line with the mainland government’s push for a stronger market, while the rest of the region turned cautious on equities. 

MSCI’s broadest index of Asia-Pacific shares outside Japan see-sawed during the local session and was down 0.2 per cent, after it briefly traded in positive territory.

Eurpean shares fell as surging US cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound.

In commodities, oil prices declined amid concerns that a surge in new cases, especially in the United States, will hamper any recovery in fuel demand.

(With inputs from Reuters)


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