Categories: Business

Sensex gains 499 points; Nifty closes above 10400

stock market today
Image Source: GOOGLE

new Delhi. Today, the stock markets have closed with a gain of more than 1 per cent due to better signals from the domestic economy with foreign markets and the purchase of heavyweight stocks. In Wednesday's trade, the Sensex gained 499 points to 35414 and the Nifty gained 128 points to close at 10430. Public sector banks have seen the highest growth in today's business.

Investors' confidence in the domestic economy has increased due to improvement in June manufacturing figures as compared to May and also indicated better performance in auto sector sales from last month. Escorts tractor sales grew 21 per cent in the month of June, indicating that the agricultural sector has outperformed even in the midst of lockdown, and the rural sector has seen an increase in income. Along with this, there has been a jump in the GST collection in June. All these domestic signals are expected that the Indian economy can gain momentum with the control of Corona. The impact of these signals is seen on the domestic market today.

Investors bought strong stocks, which benefited the major index, after the current signals expected better performance in the coming time. Axis Bank was the biggest gainer among the Sensex stocks, with the stock closing up 6.4 per cent. At the same time, HDFC led 4.49 per cent, Reliance Industries 2 per cent and HDFC Bank 1.34 per cent.

At the same time, the index of public sector banks on the Nifty closed up 3.7 percent. The entire banking sector grew by 2.4 percent. With this, the FMCG sector index closed up 0.67 percent and the metal sector index gained 0.41 percent.

This post was published on July 1, 2020 3:56 pm

Content Team

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