Sensex rises 700 points as financial stocks shine; Nifty ends near 10,100

Sensex rises 700 points as financial stocks shine; Nifty ends near 10,100

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New Delhi: Equity indices end with benchmark on Thursday BSE SENSEX 700 points rising due to gains in financial and banking stocks.
The 30-share BSE index gained 700 points or 2.09 percent to close at 34,208; Whereas, the broader NSE Nifty rose 211 points or 2.13 percent to close at 10,092 points.
Bajaj Finance, Kotak Bank, SBI, Power Grid, Axis Bank and HDFC Bank were the biggest gainers.
Whereas, ONGC, TCS, Hindustan Unilever, Bharti Airtel, Bajaj Auto and Maruti fell by 0.64 per cent.
On the NSE platform, Nifty Bank, Financial Services and Private Bank gained 3.74 percent.
Rating agency Fitch negatively revised the country’s outlook, saying that the coronavirus epidemic significantly undermined India’s development outlook.
“There are many variables at play at the moment and growth with China could be considered negative by outside buyers,” Rasmik Ojha, head of fundamental research at Kotak Securities, told news agency Reuters.
On the currency front, the rupee fell flat by just 2 paise to 76.14 (provisional) against the US dollar, on a flat note, which led to a weak US dollar and gains in the domestic equity market.
Global oil benchmark Brent crude futures rose 0.42 percent to $ 40.88 a barrel.
According to provisional exchange data, foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 486.62 crore on Wednesday.
(With agency inputs)


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