Saturday, July 24, 2021
Home Business Sensex Jumps Over 600 Points; Financials, IT Outshine

Sensex Jumps Over 600 Points; Financials, IT Outshine

The domestic stock markets ended on a strong note due to value buying at lower levels amid positive global cues. The US markets had a firm closing overnight, and Asian and European markets shrugged off coronavirus concerns, and the positive sentiment led to rebound on Dalal Street after a corrective phase that lasted all of three days. The BSE Sensex ended the session at 52,837.21, higher by 638.70 points or 1.22 per cent and NSE Nifty was at 15,824.05, up 191.95 points or 1.23 per cent.

The broader markets also had a good session, with the BSE Midcap index and BSE Smallcap index gaining 1.5 per cent each.

All the sectoral indices ended in the green, with the exception of the FMCG space. The FMCG space was dragged by weakness on the Hindustan Unilever counter post its June quarter results.

The rupee ended higher by 15 paise at 74.46 per dollar amid buying in the domestic equity markets. It opened 18 paise higher at 74.43 per dollar against Tuesday’s close of 74.61.

In corporate news, Hindustan Unilever – the country’s leading fast-moving consumer goods maker – reported a net profit of Rs 2,061 crore in the April-June quarter, a growth of 9.5 per cent compared to Rs 1,881 crore in the same quarter last year. The shares of Hindustan Unilever, however, ended lower by 2.3 per cent at Rs 2,379 on the BSE.

The day belonged to financial and metal stocks, with Tech Mahindra, Bajaj Finance, Bajaj Finserv and Infosys gaining 2-5 per cent each on the BSE. Bharti Airtel, Tata Steel and L&T were the other significant gainers on the BSE.

On the other hand, Hindustan Unilever, Asian Paints, Bajaj Auto and M&M lost up to a per cent each on the BSE.

The BSE market breadth was strong. Out of 3,387 stocks traded on the BSE, there were 2,184 advancing stocks as against 1,065 declines.

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