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Sensex zooms 358 points, Nifty ends above 15,700; Bajaj twins, SBI top gainers

BusinessToday.In     June 10, 2021

Benchmark indices snapped two days of losses as  investors bought financial, pharma and IT stocks amid firm Asian cues. Sensex zoomed 358  points to end at 52,300.  Intra-day, the 30 stock index swung between a high of 52,346.35 and a low of 51,957.92.

Nifty rose 102 points to end at 15,737.

Bajaj Finance was the top Sensex gainer rallying 7.29 per cent, followed by shares of Bajaj FinServ, SBI, IndusInd Bank, Dr Reddy's, Tech Mahindra, ITC and Kotak Bank.

Bajaj Auto, Maruti, HCL Tech, UltraTech Cement, PowerGrid, ONGC and Nestle were the top Sensex losers falling up to 1%. Of 30 Sensex stocks, 23 ended in green.

"Ahead of US inflation data and European Central Bank policy meeting outcome, Indian equities reflected its Asian counterparts to trade on a positive note. With faster vaccine coverage and off-loading of fiscal measures, the economic impact of COVID second wave will most likely be restricted to Q1 FY22, as per the monthly report of the Department of Economic Affairs. Gains in the market were broad-based with all major sectors except auto," said Vinod Nair, Head of Research at Geojit Financial Services.

BSE realty, healthcare, finance and telecom indices emerged as the top performers, rising as much as 3.27 per cent. BSE smallcap and midcap indices rose 1.73 per cent and 1.26 per cent, respectively. The largecap index rose 0.73 per cent.

Market capitalisation on BSE ended at a record high of Rs 230.23 lakh crore today. Market breadth was positive with 2,427 stocks ending in green against 770 falling on BSE. 136 stocks were unchanged.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 846.37 crore, as per exchange data.

Extending losses for the third straight session, the rupee fell by 9 paise to end at 73.06 against the US dollar.

Forex traders said the local unit is trading in a narrow range as investors looked to key US inflation data and European Central Bank meeting later in the day for further cues.

Elsewhere in Asia, stock markets closed with gains ahead of crucial US inflation data for May. Bourses in Europe were mixed, with investors looking ahead to the ECB policy meeting for further cues.

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