Markets

Sensex jumps 225 points; Axis Bank rallies 4%

Equity benchmark Sensex jumped 225 points on Tuesday following gains in HDFC twins, ITC and Axis Bank amid sustained foreign fund inflows and positive global cues.

After touching a high of 38,556.27, the BSE Sensex pared some gains to end 224.93 points or 0.59% higher at 38,407.01.

The NSE Nifty jumped 52.35 points or 0.46% to finish at 11,322.50.

Axis Bank was the top gainer in the Sensex pack, rallying around 4 per cent, followed by IndusInd Bank, ITC, HDFC Bank, Tata Steel, HDFC, ICICI Bank and Reliance Industries.

On the other hand, Titan, Bharti Airtel, HCL Tech and ONGC were among the laggards.

According to traders, investor sentiment was positive tracking positive cues from other global indices and consistent foreign fund inflows.

Meanwhile, market participants cautiously weighed the news of Russia becoming the first country to officially register a coronavirus vaccine and declare it ready for use, despite international skepticism.

The number of cases around the world linked to COVID-19 has crossed 2 crore, while the infection count in India has reached 22.68 lakh.

Bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai closed in the red.

Stock exchanges in Europe were trading significantly higher in early deals.

Global oil benchmark Brent crude was trading 0.73% higher at USD 45.32 per barrel.

In the forex market, the rupee appreciated 12 paise to close at 74.78 against the US dollar.

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Printable version | Sep 22, 2020 6:34:44 PM | https://www.thehindu.com/business/markets/sensex-jumps-225-points-axis-bank-rallies-4/article32325453.ece

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