This Article is From Jun 20, 2018

Sensex Surges 260 Points, Nifty Closes At 10,772; RIL, Induslnd Bank Lead Gains

Stock markets gains were led by advances in financials, despite lingering US-China trade tensions that whipped markets in previous sessions.

Sensex Surges 260 Points, Nifty Closes At 10,772; RIL, Induslnd Bank Lead Gains

DIIs bought shares worth a net Rs 653.686 crore on Tuesday.

Snapping two-day losing streak, the stock markets closed Wednesday's session on a positive note, with S&P BSE Sensex rising 260.59 points. BSE Sensex soar 0.74 per cent and closed at 35,547.33. The Nifty50 index rose 62.10 points or 0.58 per cent and settled at 10,772.55. Stock markets gains were led by advances in financials, despite lingering trade tensions between the United States and China that whipped markets in the previous sessions. All sectoral indices, led by healthcare, realty and auto, were in the positive zone.

10 things to know about stock markets today:

  1. Major gainers in the Sensex pack were Reliance, Induslnd Bank, Vedanta Limited, Kotak Mahindra Bank Yes Bank and Tata Steel, rising between 1.52 per cent to 2.44 per cent. Top laggards on the index were Coal India, ONGC, ITC, Wipro, LT and Infosys, ending with losses of between 1.36 per cent to 0.06 per cent.

  2. Reliance, Induslnd Bank, Kotak Mahindra Bank, Tata Steel and Vedanta Limited, (rising between 1.72 per cent to 2.32 per cent) were leading the pack of Nifty gainers. While main losers on the index were UPL, IOC, Hindustan Petroleum, ONGC, HCL technology (ending with losses between 1.30 per cent to 3.28 per cent).

  3. Shares of oil-to-telecom conglomerate Reliance Industries hit a record closing high on Wednesday.

  4. HDFC Bank Ltd and Housing Development Finance Corp rose for second straight session.

  5. The RITES (Rail India Technical and Economic Service) IPO (initial public offering) also opened on Wednesday. With RITES IPO, the government intends to divest 12.6 per cent of its stake in the company. At the cap price, RITES IPO is valued at Rs. 466 crore, while it's valued Rs. 453 crore at the floor price.

  6. The Nifty finance index was up 0.8 per cent, on track to stem five days of losses.

  7. Vedanta Ltd, the local unit of diversified mining group Vedanta Resources Plc, was among the top percentage gainers (rising around 2 per cent) on both the indexes.

  8. Overseas, Asian and European stocks too bounced back, reversing some of their recent losses. Brokers said investor sentiment got a boost after the Reserve Bank announced purchase of government securities of up to Rs 10,000 crore on June 21 to help in liquidity management. 

  9. Investors are now waiting for the minutes of RBI's Monetary Policy Committee meeting, which is due after market hours. 

  10. Domestic institutional investors (DIIs) bought shares worth a net Rs 653.686 crore while foreign portfolio investors (FPIs) sold equities to the tune of Rs 1,324.92 crore on Tuesday, as per provisional data. (With inputs from Agencies)



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