Market update:Sensex gains 350 points, Nifty around 9,400


Published On: Tuesday, May 5, 2020 | By:

Market update:Sensex gains 350 points, Nifty around 9,400

Equity markets in India today (5th May 2020) edged higher, in line with their Asian peers, led by banks and metals. The S&P BSE Sensex rose 370 points to 32,060 marks and the Nifty50 index was around 9,400 levels. Axis Bank, ONGC, and IndusInd Bank (all up 3%) led the list of gainers in the Sensex pack. Marico gained 5 percent after announcing its March quarter earnings. A total of nine companies including Adani Ports, SBI Life Insurance, and Rallis India are scheduled to announce their March quarter earnings. Wall Street rebounded in overnight trade as the lifting of lockdowns in some US states boosted optimism. The Dow Jones rose 0.1 percent, the S&P 500 gained 0.4 percent and the Nasdaq Composite added 1.2 percent. Asian stocks also inched higher in early deals. Australia's ASX 200 gained 1.3 percent and the Hang Seng index was up half a percent. In commodities, oil prices jumped higher. Brent crude was last up 4 percent at $28.32 a barrel.

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