MARKET WRAP: Sensex gains 499 pts as financials rally, Nifty ends at 10,430
All that happened in the markets today
 "Markets")
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 markets
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)
4:13 PM
MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services.
"Benchmark indices gained strength on the back of data showing that economic activity may be stabilizing. The gains were led by the banking index. The Nikkei PMI survey indicated that although activity contracted in June, it was at a much slower pace as compared to May month. This gives rise to the hope that the economy may be emerging out of one of its worst periods in recent times. However, the continued rise in virus infections, and the resulting extension of lockdowns in many areas, may continue to slow down and impact the economic recovery. Although the market trend is positive, the upside seems to be capped and investors are advised to follow a stock-specific strategy."
3:46 PM
SECTOR WATCH:: Sectoral gainers and losers on the NSE
3:42 PM
MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex
3:35 PM
CLOSING BELL
The S&P BSE Sensex jumped 499 points or 1.43 per cent to end at 35,414 while NSE's Nifty ended at 10,430, down 128 points or 1.24 per cent.
3:22 PM
MARKET CHECK:: Top 5 gainers on the BSE at this hour
3:10 PM
Chemical shares in focus; Clariant Chemicals, Balaji Amines rally up to 18%
Shares of chemicals, commodities as well as specialty chemicals companies were trading actively on Wednesday, surging up to 18 per cent in the intra-day trade, on the BSE on expectation of good earnings on back of improved demand. Individually, Clariant Chemicals (India) rallied 18 per cent to Rs 477.90 after the company announced that its board will meet on Saturday, July 4, 2020, to consider and declare the payment of special interim dividend for the financial year 2020-21. READ MORE
3:06 PM
PSU Bank stocks surge in trade; PNB, Indian Bank up 5%
2:54 PM
NEWS ALERT :: UK manufacturing PMI rose to 50.1 in June from 40.7 in May
>> Output edged higher and domestic demand firmed as lockdown restrictions loosened, factories restarted and staff returned to work, said Rob Dobson, director at IHS Markit, which compiles the survey.
(Source: Reuters)
(Source: Reuters)
2:45 PM
Tata Steel: Better-than-expected performance lifts street sentiments
While the impact of Covid-19 was evident on Q4 numbers, the beat in consolidated operating performance was led by the turnaround of Bhushan Steel’s operations (now Tata Steel BSL), operating efficiencies, and a good show by its European business (Tata Steel Europe). READ MORE
2:32 PM
June Auto Sales :: Hero MotoCorp's total sales jump 4x MoM to 4.5 lakh units
>> Reaches 90% of pre-covid sales
>> Made wholesale deliveries of 450,744 units – a record sequential growth of four times over the 112,682 units dispatched in May’20
>> Hero MotoCorp sold a total of 563,426 units of motorcycles and scooters in the first quarter of Financial Year (April-June) 2020-21.
>> Made wholesale deliveries of 450,744 units – a record sequential growth of four times over the 112,682 units dispatched in May’20
>> Hero MotoCorp sold a total of 563,426 units of motorcycles and scooters in the first quarter of Financial Year (April-June) 2020-21.
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First Published: Jul 01 2020 | 7:42 AM IST