Markets

Sensex surges 622 points; HDFC rallies over 5%

A view of the BSE building in Mumbai.

A view of the BSE building in Mumbai.   | Photo Credit: Paul Noronha

Equity benchmark Sensex rallied 622 points on Wednesday, propelled by gains in index-heavyweights HDFC twins and Reliance Industries despite weak cues from global markets.

The 30-share index settled 622.44 points or 2.06% higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11%, to end at 9,066.55.

HDFC was the top gainer in the Sensex pack, surging over 5%, followed by M&M, L&T, Tata Steel, Bajaj Finance, HDFC Bank and Sun Pharma.

On the other hand, IndusInd Bank, Hero MotoCorp, Bharti Airtel and Asian Paints finished in the red.

While stock-specific action led benchmarks higher, experts forecast continued volatility in the near-term amid rising number of coronavirus cases in the country.

The number of COVID-19 cases in India spiked to 1.06 lakh, while the death toll rose to 3,303, according to the health ministry.

Globally, the number of cases linked to the disease has crossed 48.97 lakh and the death toll has topped 3.23 lakh.

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

Stock exchanges on Europe were trading with losses in early deals.

International oil benchmark Brent crude futures climbed 1.24% to USD 35.08 per barrel.

On the currency front, the rupee depreciated by 14 paise to provisionally end at 75.80 against the US dollar.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jun 6, 2020 11:30:31 PM | https://www.thehindu.com/business/markets/sensex-surges-622-points-hdfc-rallies-over-5/article31632032.ece

Next Story