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Sensex Saw A Rally Of 466 Points, Nifty At 10,763.65 Level

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Sensex Saw A Rally Of 466 Points, Nifty At 10,763.65 Level
PTI - 06 July 2020

Mumbai, Jul 6: Equity benchmark BSE Sensex closed higher for the fourth straight session on Monday with 466 points led by gains in Reliance Industries and HDFC Bank, amid easing India-China border tension and bullish trend in global markets.

After touching a high of 36,661.66 during the day, the 30-share index settled 465.86 points, or 1.29 per cent, higher at 36,487.28.

The NSE Nifty soared 156.30 points, or 1.47 per cent, to 10,763.65.

Mahindra and Mahindra gained 7 per cent jump as the top gainer in the Sensex pack, followed by Bajaj Finance, Reliance Industries, Maruti, TCS, HDFC Bank and Tata Steel, while Bajaj Auto, HDFC, Bharti Airtel and HUL were among the laggards.

Traders maintain that besides stock-specific action, domestic indices rallied on positive sentiment led by signs of easing border tension between India and China.

According to the Ministry of External Affairs, National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi agreed that maintenance of peace and tranquillity were essential for development of bilateral ties.

Further, massive buying momentum in global equities in hopes of a COVID-19 vaccine, and improving global macroeconomic conditions too boosted investor sentiment, traders said.

Bourses in Shanghai rallied around 6 per cent, Hong Kong 4 per cent, Tokyo and Seoul up to 2 per cent in hopes of more government stimulus to support economic recovery.

Stock exchanges in Europe too jumped up to 2 per cent in early deals.

Meanwhile, international oil benchmark Brent crude futures rose 1.43 per cent to US dollar 43.42 per barrel.

On the currency front, the rupee pared initial gains and settled 2 paise down at 74.68 against the US dollar.

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