Stock Market Updates: HDFC, HDFC Bank and Reliance Industries were the biggest boosts to Sensex
Domestic stock markets registered sharp gains on Thursday, led by strong buying interest across sectors, amid gains in global equities on hopes of recovery from the coronavirus pandemic. The S&P BSE Sensex index jumped as much as 453.39 points – or 1.19 per cent – to 38,521.32 in morning deals following a gap-up opening. The broader NSE Nifty 50 benchmark climbed to as high as 11,373.15, up 125.6 points – or 1.12 per cent – from its previous close. (Track Sensex, Nifty Here)
At 10:00 am, the Sensex traded 442.08 points – or 1.16 per cent – higher at 38,510.01, while the Nifty was up 121.30 points – or 1.08 per cent – at 11,368.85.
The Bank Nifty index – comprising stocks of 12 major lenders in the country – traded 1.90 per cent higher at the time, having risen as much as 2.26 per cent earlier.
Analysts awaited an update on the RBI’s bi-monthly policy review, after the central bank said on Monday it was postponing its meeting that was scheduled between September 29 and October 1.
The Supreme Court will hear a case on waiving interest rates on loans under a moratorium on October 5.
Meanwhile, the current account surplus rose to a record $19.8 billion in April-June as its trade deficit narrowed sharply, Reserve Bank of India data showed on Wednesday.
The country’s financial markets will remain shut on Friday, October 2, for Mahatma Gandhi Jayanti.
Global shares registered mild gains on Thursday on renewed hopes for fresh stimulus measures in the world’s largest economy, but mounting uncertainty ahead of the United States’ presidential election and technical problems in Japan kept gains in check.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.30 per cent higher, while Japan’s Nikkei 225 benchmark was flat.
