Equity indices on upswing led by metal, financial stocks

ANI
11 Aug 2020, 10:48 GMT+10

Mumbai (Maharashtra) [India], Aug 11 (ANI): Equity benchmark indices surged for the third consecutive session during early hours on Tuesday with metal and financial stocks leading the rally.

At 10:15 am, the BSE SP Sensex was up by 291 points or 0.76 per cent at 38,473 while the Nifty 50 gained by 77 points or 0.68 per cent at 11,347.

Except for Nifty pharma which slipped marginally, all sectoral indices at the National Stock Exchange were in the green with Nifty metal gaining by 2.9 per cent, private bank by 1 per cent and financial service by 0.9 per cent.

Among stocks, Tata Steel moved up by 3.8 per cent to Rs 426 per share while Hindalco gained by 3.6 per cent and JSW Steel by 3.2 per cent.

The other prominent winners were HDFC, Axis Bank, ICICI Bank, Wipro, Asian Paints and ITC.

However, Titan lost by 3.9 per cent a day after the jewellery-to-eyewear maker reported a net standalone loss of Rs 270 crore for the quarter ended June. It had reported a profit of Rs 371 crore in the year-ago period.

The others which lost were Dr Reddy's, Cipla, Sun Pharma, UPL, Bharti Airtel and Tata Motors.

Meanwhile, Asian stock markets rose as investors awaited a meeting between the top US and Chinese trade officials later this week to review the first six months of phase one trade deal.

MSCI's broadest index of Asia Pacific shares outside Japan was up by 1 per cent. Japan's Nikkei returned from a holiday with a 1.7 per cent gain and the Hang Seng bounced by 2.2 per cent. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.

More Information

null in null

Business

Section

Walmart faces pushback as it asks Chinese suppliers to cut prices

Walmart asks China suppliers for price cuts on Trump tariffs

BENTONVILLE, Arkansas: Walmart is pressuring some Chinese suppliers to cut prices in response to President Donald Trump's imposed U.S....

US urges India to cut tariffs, boost defense buys for more trade

US pushes India to lower tariffs, buy more defense products

NEW DELHI, India: The United States is pressing India to lower tariffs and increase defense purchases to secure a stronger bilateral...

Horror day on Wall Street, Nasdaq loses 4 percent

U.S. stock markets shatter, Dow Jones drops 890 points

NEW YORK, New York - U.S. stocks plunged on Monday, joining a global rout which followed U.S. President Donald Trump not ruling out...

U.S. dollar weighed down by tariffs, stock market woes

NEW YORK CITY, New York - The global foreign exchange market experienced notable shifts on Monday, influenced by escalating trade tensions...

US: Refilling oil reserve fully will cost $20 billion, take years

US estimates it will take $20 billion and years to refill oil reserve

WASHINGTON, D.C.: The U.S. Energy Department estimates it will take US$20 billion and several years to refill the Strategic Petroleum...

BP CEO’s pay drops to 5.4 million pounds in 2024

BP says CEO's pay package fell to 5.4 million pounds in 2024

LONDON, U.K.: British Petroleum CEO Murray Auchincloss saw his pay package drop to 5.4 million pounds (US$6.95 million) in 2024, down...

Southeast Asia

Section