Sensex rebounds 359 points; financial, pharma stocks key drivers

Sensex rebounds 359 points; financial, pharma stocks key drivers
Sensex rebounds 359 points; financial, pharma stocks key drivers

The BSE benchmark Sensex surged nearly 359 points to cl­ose above the 52,300-level on Thursday, with financial, pha­rma and IT shares gaining the most amid positive global cues.

The 30-share Sensex finished 358.83 points or 0.69 per cent higher at 52,300.47. Intra-day, the index swung between a high of 52,346.35 and a low of 51,957.92.

Similarly, the broader NSE Nifty climbed 102.40 points or 0.65 per cent to end at 15,737.75. On the Sensex chart, Bajaj Finance, Bajaj FinServ, SBI, IndusInd Bank, Dr Reddy’s, Tech Mahindra, ITC and Kotak Bank were the prominent gainers – rising up to 7.29 per cent.

On the other hand, Bajaj Auto, Maruti, HCL Tech, Ultratech Cement, PowerGrid, ONGC and Nestle suffered losses. Of the 30 shares in the Sensex pack, 23 ended with gains.

Elsewhere in Asia, stock markets closed with gains ahead of crucial US inflation data for May.

On the forex market front, the Indian rupee lost 9 paise to end at 73.06 against the US dollar on Thursday.

“Many states have eased lockdown restrictions since the peaking of the second COVID wave in early May. The central bank is maintaining its accommodative stance, while the government has launched another fiscal package via the distribution of free vaccines and food,” said Jen-Ai Chua, Equity Research Analyst Asia, Julius Baer.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

Related Posts