Sensex advances by 114 points; BSE Auto soars more than 2 per cent

In spite of the growing concerns of slow GDP growth and reopening of Indian economy from lockdown; on Thursday, Sensex managed to close in green, inching up by 0.37 per cent or 114.29 points at 30,932.90 levels while, Nifty increased by 0.44 per cent or 39.70 points to close at 9,106.25 levels.

Investors remained cautious as hopes of a speedy recovery is getting diminished due to the impact caused by COVID-19 disruptions. As Civil Aviation Ministry announced of resuming domestic civil operations from May 25, while keeping a control on ticket prices; the stocks related to aviation, tourism and hospitality sector zoomed with a majority of them closing in green.

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Post its debut on Wednesday, the shares of Reliance Industries Rights Entitlement jumped by 40 per cent thus, widening the spread between the market price and rights issue of each RIL share, which implies as positive news for potential long-term investors. Additionally, it is said that US has passed a bill that could stop some Chinese firms from listing on US stock markets. This is viewed as a new threat from the conflict between US-China looming over the markets. As a result, Asian indices closed on a weaker note as Shanghai, Hang Seng and Nikkei declined by 0.55 per cent, 0.49 per cent and 0.21 per cent, respectively while, European indices such as FTSE 100, CAC 40 and DAX opened lower by 0.82 per cent, 1 per cent and 1.33 per cent, respectively.

Sensex gainers consisted of stocks such as ITC gaining by 7.48 per cent, Asian Paints-up by 4.97 per cent, Hero MotoCrop surged by 3.93 per cent, Maruti gained by 3.14 per cent, Baja Auto went up by 2.57 per cent, TCS gained by 2 per cent, RIL went up by 0.38 per cent, etc. Sensex losers included stocks such as IndusInd Bank which fell by 2.91 per cent, NTPC decreased by 2.74 per cent, Baja Finance fell by 2.65 per cent, HDFC declined by 1.88 per cent, L&T fell by 1.75 per cent, etc.

Amongst sectoral indices, BSE Auto rallied by 2.45 per cent, followed by BSE Metal index and BSE FMCG index, gaining by 1.84 per cent and 1.76 per cent, respectively. BSE Small-cap increased by 0.72 per cent while, BSE Mid-cap gained by 0.76 per cent.