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Sensex rises 934 points on strong global cues

Sensex rises 934 points on strong global cues

PTI

Mumbai, June 21

Sensex and Nifty advanced for a second straight session on Tuesday amid a bullish trend in global equities, driven by buying across the board.

Titan jumped 5.92%

  • Reliance Industries and IT stocks saw strong demand following the recent fall, even as the rupee depreciated and impacted the sentiment of global central banks.
  • Except Nestle India, all the constituents of the Sensex closed in the green. Titan rose 5.92%, followed by SBI, TCS, HCL Technologies, Dr Reddy’s, Tata Steel and Wipro.

Traders said the recent fall in major indices Reliance Industries and IT stocks saw strong demand, even as a depreciating rupee and global central banks influenced sentiment.

The 30-share BSE Sensex closed 934.23 points higher at 52,532.07. During the day, it closed at 52,799.40, up 1,201.56 points or 2.32%. Similarly, the NSE Nifty climbed 288.65 points or 1.88% to end at 15,638.80.

Except Nestle India, all the constituents of the Sensex closed in the green. Titan gained 5.92%, followed by SBI, TCS, HCL Technologies, Dr Reddy’s, Tata Steel, Wipro, Infosys, ITC and Tech Mahindra.

“The fall in commodity prices coupled with the absence of fresh selling triggers in the domestic and global economy gave relief to the heavily discounted equity market to show recovery. The recovery indicates that the current uncertainties of inflation and monetary policy tightening have been taken into account.

“However, with the highly sensitive nature of the current equity market, even the slightest discomfort can trigger volatility,” said Vinod Nair, Head of Research, Geojit Financial Services.

In the broader market, the BSE Smallcap gauge jumped 2.99% and the Midcap index rose 2.42%.

All BSE sectoral indices ended with gains, with oil and gas index rising the most at 5.96%, followed by energy (4.95%), consumer durables (3.93%), metals (3.90%), realty (3.79%). and utilities (3.58%).

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Sensex rises 934 points on strong global cues

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