MARKET UPDATE:Sensex surged 546 points to 34,830 levels and Nifty topped 10,300-mark
Published On: Monday, June 8, 2020 | By: Team KnowMyStock
Equity markets were trading firm today(8th June 2020), in line with trends in other Asian markets, lifted primarily by banks and metals. The S&P BSE Sensex surged 546 points, or 1.83 percent, to 34,830 levels and the Nifty50 index topped 10,300-mark. IndusInd Bank gained 6 percent and Axis Bank shot up 5 percent. Besides, Reliance Industries gained over 2 percent and hit a new lifetime high of Rs 1,624 on the BSE after the conglomerate announced a 1.16 percent stake sale in Jio Platforms to Abu Dhabi Investment Authority. All the Nifty sectoral indices, except the Nifty Pharma index, were trading in the green, led by the Nifty Bank index, up 3.3 percent. Nineteen companies, including Titan, PVR, and Abbot India are scheduled to announce their March quarter results.
Asian shares advanced in early deals. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, with Japan's Nikkei rising 0.74 percent. On the other hand, South Korea’s Kospi slipped 0.3 percent.
In commodities, oil prices rose to their highest in three months after OPEC and its allies including Russia agreed to extend record oil production cuts until the end of July. Brent crude climbed to as high as $43.41 a barrel and was last trading at $42.95, up 1.54 percent.
Tags: Indian equity market
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