Markets

Sensex gains 60 points in early trade led by gains in banking stocks

Top gainers in the Sensex pack included HDFC, ITC, TCS, NTPC, Asian Paint, L&T, IndusInd Bank, HDFC Bank, Axis Bank, SBI and Sun Pharma

Equity benchmark BSE Sensex rose over 60 points in early trade on Thursday led by gains in banking stocks amid sustained foreign fund inflows.

Besides, easing global crude prices also helped buying sentiment, traders said.

The 30-share index was trading 60.48 points, or 0.16%, higher at 38,659.47 in morning trade. The broader NSE Nifty was trading almost flat up 2 points, or 0.02%, at 11,466.

Top gainers in the Sensex pack included HDFC, ITC, TCS, NTPC, Asian Paint, L&T, IndusInd Bank, HDFC Bank, Axis Bank, SBI and Sun Pharma.

On the other hand, Vedanta, Tata Steel, ONGC, HCL Tech, M&M, TechM and Tata Motors fell up to 1.94%.

In the previous session, the 30-share BSE Sensex ended 92.90 points, or 0.24%, higher at 38,598.99. On similar lines, the broader NSE Nifty rose 35.70 points, or 0.31%, to settle at 11,464.

Foreign institutional investors (FIIs) continued to be net buyers in the capital market, infusing ₹686.33 crore on Wednesday, and domestic institutional investors bought shares worth ₹1,576.73 crore, data available with stock exchange showed.

Elsewhere in Asia, bourses in Hong Kong, Shanghai and Tokyo were trading on a positive note, while those in Seoul were in the red.

The U.S. markets finished modestly lower on Wednesday after a subdued retail sales report.

Brent futures, the global oil benchmark, fell 0.69% to $59.01 per barrel.

The rupee, meanwhile, strengthened by 3 paise against the U.S. dollar to trade at 71.40 in early session.

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Printable version | Jul 5, 2020 8:34:03 PM | https://www.thehindu.com/business/markets/sensex-gains-60-points-in-early-trade-led-by-gains-in-banking-stocks/article29723140.ece

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