Energy, bank, auto stocks spur Sensex 2% higher

Energy, banking and auto stocks spurred a 2.03% jump in the S&P Sensex on Tuesday, ending a four-day losing streak.

The Sensex added 748.31 points to 37,687.91 points. Top gainers included Reliance which rose 7.1%, HDFC Bank (3.94%), Maruti (3.16%) and Axis Bank which climbed 2.77%. The Nifty advanced 203.65 points, or 1.94%, to 11,095.25.

The HDFC Bank stock was in the limelight after the RBI approved the appointment of Sashidhar Jagdishan as the next MD and CEO of the bank.

“Indian markets will continue to take cues from global peers and the upcoming RBI policy would be the next major trigger,” said Ajit Mishra, vice president, Research, Religare Broking Ltd., giving a pointer to the coming week. He added that with more firms announcing earnings, “stock-specific action would continue to induce high volatility.”

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Printable version | Sep 20, 2020 12:36:16 AM |

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