- Mutual fund industry AUM falls 8% to Rs 25 trillion in June quarter
- Sebi notifies new regulations for registered investment advisers
- Down they go: 37 emerging markets cut rates for 17th month in a row
- Promoters tightened grip with stake hikes in 500 firms during March panic
- RBI fixes Sovereign Gold Bond price at Rs 4,852 a gram, issue opens July 6
- Tata Power stock powers up with strategic turnaround, deleveraging plans
- Equity fund raising activity surges 52%, fee pool declines in H12020
- Market Wrap, July 3: Here's all that happened in the markets today
- Bharat Bond ETF second tranche launched, base issue size of Rs 3,000 cr
- Bharat Bond ETF may look at including 'AA' rated securities of PSUs: DIPAM
MARKET WRAP: Sensex gains 499 pts as financials rally, Nifty ends at 10,430
All that happened in the markets today
Traders monitor BSE index at a brokerage firm in Mumbai | PTI
Equity benchmark indices, S&P BSE Sensex and NSE's Nifty50, ended around 1.5 per cent higher on Wednesday amid buying in financial counters. Meanwhile, improved Manufacturing PMI data for May and better June GST collection boosted investor sentiment.
The S&P BSE Sensex rallied 499 points or 1.43 per cent to end at 35,414.45 with Axis Bank (up 6.5 per cent) being the top gainer and NTPC (down over 2 per cent) the biggest loser.
NSE's Nifty ended at 10,430, up 128 points or 1.24 per cent. Volatility index, India VIX, dropped around 3.5 pr cent to 28.10 levels.
In the broader market, the Nifty Midcap 100 index gained 0.5 per cent while the Nifty SmallCap 100 rose 0.85 per cent.
Sectorally, PSU bank stocks rallied the most. The Nifty PSU Bank index gained over 3.6 per cent while Nifty Bank climbed nearly 3 per cent to 21,977.60 levels.
Global stocks struggled for momentum on Wednesday as improving economic data was offset by concern that surging coronavirus cases in the United States could derail the world’s recovery before it properly begins.
MSCI’s world shares index was 0.1 per cent higher after rising 18 per cent for its biggest three-month gain since 2009 in the second quarter, but it still closed the first half around 8 per cent lower from where it started the year.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China. E-Mini futures for the S&P 500 were down 0.2 per cent.
(With inputs from Reuters)