Sensex closes 282 more points, shrewd at 12,859 under the guidance of financial and IT stocks

0
0

Buying interest in banking, financials, IT and consumer stocks stocks supported markets

Domestic stock markets pushed higher on Friday in a rebound a day after benchmarks broke a four-day winning streak. The S&P BSE Sensex index jumped 289.44 points – or 0.66% – to hit 43,889.40 at the highest level recorded during the session. The broader benchmark NSE Nifty 50 climbed to 12,855.20, up 83.5 points – or 0.65% – from its previous close. Buying interest in banking, financial services, IT and consumer goods stocks supported the markets.

Here are 10 things to know:

  1. The Sensex finished 282.29 points – or 0.65% – up to 43,882.25 and the Nifty came in at 12,859.05, up 87.35 points – or 0.68% – from compared to its previous closing. (Follow Sensex, Nifty here)

  2. Bajaj Finserv, Titan, GAIL, Bajaj Finance and Bharti Airtel, closing between 3.12% and 9.27% ​​higher, were the first winners of the Nifty basket of 50 shares. In contrast, Reliance Industries, Adani Ports, IndusInd Bank, Axis Bank and Sun Pharma, down 0.97 to 3.66 percent each, were the hardest hit among 16 laggards in the index.

  3. HDFC Bank, Kotak Mahindra Bank, Bajaj Finance and Bajaj Finserv were the main contributors to the gain of Sensex.

  4. Sectors such as autos, real estate and metals are receiving more attention from investors than early winners in the pandemic, such as healthcare or IT, on signs of businesses reopening, Saurabh said Jain, assistant vice president of SMC Securities. “The open economy theme is playing out… the markets expect things to get back to normal sooner than before,” he said.

  5. Gland Pharma shares rose 20% when they first entered the market.

  6. Globally, stock markets were hit by a wave of uncertainty on Friday after US Treasury Secretary Steven Mnuchin called for an end to relief from the coronavirus pandemic for struggling companies, sparking a rare clash between the central bank and the Treasury.

  7. In Asia, the MSCI’s largest Asia-Pacific equity index, excluding Japan, posted a gain of 0.20% as investors weighed in on the prospect of global growth amid COVID-cases. 19 still on the rise in the world.

  8. In a letter to U.S. Federal Reserve Chairman Jerome Powell, Mnuchin said the $ 455 billion allocated to the treasury under the CARES Act should instead be available for Congress to reallocate.

  9. Data showing COVID-19 hospitalizations across the United States has jumped nearly 50% in the past two weeks, threatening the recovery of the world’s largest economy as cities and states begin to impose lockouts, hurting investor sentiment.

  10. European stock markets started the day on a positive note, with the UK’s benchmark FTSE 100 last seen trading 0.50 percent higher at the start of trading. While the Eurostoxx 50 gauge rose 0.42%, France’s CAC 40 index rose 0.46% and Germany’s DAX 30 increased 0.35%.

ALSO READ  Here's why the stock market doesn't care about next week's election

Newsbeep

.