You are here: Home » Markets » News

MARKET WRAP: Financials propel Sensex 996 points up; Nifty reclaims 9,300

All that happened in the markets today

Markets | Reliance Industries Limited | Deepak Nitrite

SI Reporter  | New Delhi 


Benchmark indices shot up over 3 per cent on Wednesday, propelled by banks and financials, ahead of the upcoming derivative contract expiry.

The S&P BSE Sensex jumped 996 points to 31,605, and the Nifty50 index reclaimed the 9,300 zones, settling 286 points higher at 9,315. Axis Bank (up 13 per cent) and ICICI Bank (up 9 per cent) were the top Sensex gainers. Besides, HDFC Bank, IndusInd Bank, Bajaj Finance, and Kotak Mahindra Bank were all up 5 per cent.

The Nifty sectoral indices were largely in the green, led by the Nifty Bank index, up over 7 per cent.

Broader indices, however, underperformed compared to their frontline peers. The S&P BSE MidCap index ended the session 0.54 per cent higher and the S&P BSE SmallCap index was up 0.28 per cent.

Buzzing stocks

Shares of Axis Bank soared 13.46 per cent to Rs 387.35 on the BSE on reports that private equity (PE) firm Carlyle was looking to pick around 8 per cent stake in the lender. READ MORE

Bajaj Finance and Bajaj Finserv recovered from multi-year lows closed 5 per cent and 3 per cent higher on the BSE. Earlier, the Bajaj twins had hit an over two-year low on the BSE amid concerns that the current April-June quarter (Q1FY20) will be a wash-out quarter for Bajaj Finance. READ MORE
Global markets

Unrest in Hong Kong over Beijing’s proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy. MSCI’s ex-Japan Asia-Pacific index fell 0.4 per cent, as Hong Kong and mainland China shares extended declines.

Hong Kong's Hang Seng fell 1 per cent and mainland shares were down 0.8 er cent, amid fears the protests would worsen tensions between the United States and China.

Still, European shares remained buoyed by hopes for a post- COVID-19 recovery. The STOXX 600 added 0.4 per cent to reach its highest level since March 10. Britain's FTSE gained 1 per cent and the domestically focused FTSE 250 hit an 11-week high as thousands of retailers prepared to re-open on June 1 from a months-long shutdown.

In commodities, oil prices fell amid U.S.-China tensions. Brent crude futures dropped 1.5 per cent to $35.62 a barrel.


Auto Refresh