Markets

Sensex rallies over 400 points in opening session; Nifty tops 9,100

Sharebrokers and holders checking Sensex and Nifty at a share market.   | Photo Credit: PTI

Equity benchmark Sensex rallied over 400 points in early trade on May 26 led by gains in index-heavyweights HDFC twins, ITC and Reliance Industries amid positive cues from global markets.

After touching a high of 31,086.70 in opening session, the 30-share index was trading 373.67 points or 1.22% higher at 31,046.26.

Similarly, NSE Nifty surged 108.70 points or 1.20% to 9,147.95.

ITC was the top gainer in the Sensex pack, rallying over 4%, followed by IndusInd Bank, HDFC Bank, Tata Steel, Titan, UltraTech Cement and L&T.

On the other hand, Bharti Airtel, TCS, Hero MotoCorp and Infosys were among the laggards.

In the previous session on May 22, the BSE barometer ended 260.31 points or 0.84% lower at 30,672.59, while the broader Nifty settled 67 points or 0.74% down at 9,039.25.

Foreign portfolio investors offloaded equities worth ₹1,353.90 crore in the capital market on May 22, provisional exchange data showed.

Markets were closed on May 25 for Eid-ul-Fitr.

Besides stock-specific action, domestic investors were enthused by positive cues from global markets as lockdown restrictions eased world over, traders said.

According to Ajit Mishra, VP - Research, Religare Broking, markets may see some respite this week due to oversold positions, especially in the banking space, but sustainability would be tough at the higher levels.

Further, volatility will prevail as COVID-19 cases spike in the country, he added.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading significantly higher.

International oil benchmark Brent crude futures were trading 1.29% higher at $35.99 per barrel.

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Printable version | Dec 3, 2020 4:57:32 PM | https://www.thehindu.com/business/markets/sensex-rallies-over-400-points-in-opening-session-nifty-tops-9100/article31676492.ece

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