MARKET UPDATE: Sensex up by 328 pointsat 33,630 levels, and the Nifty at 9,900 levels
Published On: Tuesday, June 2, 2020 | By: Team KnowMyStock
The equity markets in India were trading firm, a percent higher each, today(2nd June 2020), lifted mainly by auto, and pharma stocks. The S&P BSE Sensex was up 328 points, or 1 percent, at 33,630 levels, and the Nifty50 index conquered the psychological mark of 9,900. Kotak Mahindra Bank (up 4 percent) was the top Sensex gainer, followed by Mahindra & Mahindra and Bajaj Finance (both up 3 percent each). All the Nifty sectoral indices were trading in the green, led by Nifty Auto and Nifty Pharma indexes, both up over 1 percent. Eighteen companies, including the likes of Britannia, Indigo, and Motherson Sumi, are scheduled to announce their results today which will induce individual stock reactions.
According to analysts, Britannia may see up to 7 per cent volume decline in domestic business while revenue is likely to dip up to 4 per cent on a year-on-year basis.
As for InterGlobe Aviation, seasonal slowdown and pricing pressure amid Covid-19-led disruption is likely to push the airline towards Rs 2,600 crore loss, analysts say.
Tags: Indian equity market
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