Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses
Published On: Wednesday, June 2, 2021 | By: Team KnowMyStock
Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses and helped them end nearly flat for the second straight day. Moreover, a surge in Brent Crude price, which was hovering around $71 per barrel, exerted pressure on the bourses. The frontline S&P BSE Sensex ended at 51,849 levels, down 85 points or 0.16 percent, with ITC (down 3 percent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 percent. On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. The BSE MidCap index, which hit a record peak of 22,164 earlier today, closed 1.7 percent higher at 22,141 levels.
The BSE SmallCap index, on the other hand, gained 1.35 per cent to close at 23,841 levels after hitting a new peak of 23,842 levels in intra-day trade.
Nifty Metal and Pharma indices gained 2 per cent each.The Nifty IT and FMCG indices slipped 0.77 per cent and 0.5 per cent, respectively.
Stock markets hovered near record highs on Wednesday as investors cheered the latest evidence of a sustained rebound in global economies and stronger oil prices lifted energy stocks.
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