Home Latest MARKET WRAP: Sensex gains 173 pts as auto, IT, and metal stocks advance

MARKET WRAP: Sensex gains 173 pts as auto, IT, and metal stocks advance

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MARKET WRAP: Sensex gains 173 pts as auto, IT, and metal stocks advance

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After trading in a range for the most part of the session, the domestic stock market witnessed a sharp upside in the last hour of the trade. At the close, the S&P BSE Sensex stood at 38,050.78 levels, up 173 points or 0.46 per cent while NSE’s Nifty added 69 points or 0.61 per cent to end at 11,247. Volatility index, India VIX, declined 1.68 per cent to 21.31 levels. 


NTPC, Maruti, Larsen & Toubro (L&T), and HUL were among the major contributors to the Sensex’s gain while Reliance Industries (RIL), and were the top drags. Of 30 constituents, 24 advanced while the rest 6 declined. 
Shares crept back toward recent peaks on Monday as Chinese swung higher, while investors waited to see if the recent sell-off in longer-dated US Treasuries would be extended and perhaps take some pressure off the dollar.


Chinese blue chips led the way with gains of 2.35 per cent, as the country’s central bank provided more medium term loans to the financial system.


Beijing had also granted a patent for CanSino Biologics Covid-19 vaccine candidate Ad5-nCOV. But Tokyo’s Nikkei fell 0.6 per cent as Japan became the latest country to confirm its biggest economic contraction on record.

In commodities, oil prices steadied as that China planned to ship large volumes of US crude in August and September countered rising tensions between the two countries and a delay in the review of their trade pact over the weekend.



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