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Sensex Gains 748 Points Led By RIL, HDFC Bank

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Sensex Gains 748 Points Led By RIL, HDFC Bank
PTI - 04 August 2020

Mumbai, August 4: Domestic equity benchmark Sensex Tuesday soared 748 points, led by massive buying in index majors Reliance Industries and HDFC Bank amid heavy foreign fund inflows and a positive trend in global equities.

The BSE Sensex settled 748.31 points or 2.03 per cent higher at 37,687.91, while the NSE Nifty rallied 203.65 points or 1.87 per cent to 11,095.25.

Reliance Industries was the top gainer in the Sensex pack, surging around seven per cent.

HDFC Bank jumped nearly four per cent after the RBI approved the appointment of Sashidhar Jagdishan as Managing Director and CEO of the bank for a period of three years.

Maruti, Axis Bank, HDFC, ICICI Bank and Bajaj Finance also finished with gains.

On the other hand, Tech Mahindra, IndusInd Bank, HCL Tech, UltraTech Cement and Infosys were among the laggards.

According to traders, stock-specific action in index-heavyweights drove the markets higher. Further, strong foreign fund inflows and positive cues from global markets cheered investors.

Exchange data showed that foreign institutional investors purchased equities worth Rs 7,818.49 crore on a net basis on Monday.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant gains.

Stock exchanges in Europe were also trading on a positive note in early deals.

Global oil benchmark Brent crude was trading 1.61 per cent lower at US dollar 43.44 per barrel.

In the forex market, the rupee settled three paise down at 75.04 against the US dollar.

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