Markets

Sensex spurts 292 points; auto, metal stocks drive rally

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File   | Photo Credit: PTI

Extending its gains for the third consecutive session, market benchmark BSE Sensex rallied about 292 points on Tuesday driven by gains mainly in auto, metal and banking stocks.

After soaring 421 points during the day, the 30-share Sensex ended 291.62 points, or 0.76%, higher at 38,506.09. It hit an intra-day high of 38,635.19 and a low of 38,238.27.

The broader NSE Nifty too rose 87.15 points, or 0.77%, to settle at 11,428.30.

Top gainers in the Sensex pack included Vedanta, M&M, ONGC, Hero MotoCorp and Maruti, rising up to 3.79%.

On the other hand, Bharti Airtel, Infosys, Tata Motors, HCL Tech and Tech Mahindra fell up to 2.53%.

Elsewhere in Asia, bourses in Shanghai, Hong Kong ended in the red, while those in Seoul and Tokyo ended higher.

Exchanges in Europe were trading on a positive note after European Union’s top Brexit negotiator hinted at the possibility of a deal this week.

Meanwhile, the Indian rupee depreciated 24 paise to 71.48 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, fell 1.75% to USD 58.31 per barrel.

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Printable version | May 31, 2020 12:56:30 PM | https://www.thehindu.com/business/markets/sensex-spurts-292-points-auto-metal-stocks-drive-rally/article29690846.ece

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