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Equities gain, Nifty closes above 10,000-mark

Banking, financials hog limelight

Indian equity benchmarks gained for the sixth successive session on Wednesday with the Nifty closing above the psychological 10,000-mark for the first time in nearly three months.

Banking and financial stocks continued to see buying interest as a positive trend in the global markets helped lift investor sentiment.

The 30-share Sensex gained 284.01 points, or 0.84%, to close at 34,109.54. during intra-day trades, it gained over 660 points to touch a high of 34,488.69.

The broader Nifty gained 82.45 points to close at 10,061.55. This is the first time since March 11 when the benchmark closed above the 10,000-mark.

The strong buying interest was further corroborated by the overall market breadth as over 1,600 stocks gained ground on the BSE as against 845 that declined.

In the Sensex pack, 18 stocks rose on Wednesday, with stocks like HDFC Bank, Kotak Mahindra Bank, ICICI Bank and HDFC contributing the most to the day's gains.

Interestingly, foreign portfolio investors (FPIs) appear to have taken a bullish stance on Indian equities with net buying on most sessions in the recent past. On Wednesday, FPIs were net buyers at ₹1,851 crore.

Domestic institutional investors, however, have turned net sellers in the recent past with Wednesday's net selling pegged at ₹782 crore.

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Printable version | Jul 15, 2020 2:35:33 AM | https://www.thehindu.com/business/equities-gain-nifty-closes-above-10000-mark/article31742209.ece

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