Sensex gains by 2 per cent; Bajaj Finance rallies by over 5 per cent

Sustained by financial heavyweights, Nifty rose by 216.20 points or 2.19 per cent to reach the level of 10,097.35 while Sensex ended today’s trading session at 34,208.05, up by 700.13 points or 2.09 per cent.

European stocks such as FTSE 100, DAX and CAC 40 opened lower, trading down by 0.23 per cent, 0.34 per cent and 0.52 per cent respectively, based on rising concerns over a surge in Coronavirus cases in US. As investors continue to struggle to analyse the depth of the implications of the recent surge in Coronavirus cases in the Asia-Pacific region, Nikkei, KOSPI and Hang Seng fell by 0.45 per cent, 0.35 per cent and 0.067 per cent respectively, whereas Shanghai index gained by 0.12 per cent.

RIL stock is showing a positively rising graph and was trading at Rs 1,664 per share on BSE during today’s trading session, touching a new 52-week high record. Investors are viewed as bullish over the company’s goal to become a ‘zero-debt company’ leading to a further rise in the investors’ confidence that has already been at a high level owing to the continuous investments in Jio Platforms by leading names in global business space.

In the latest news about the AGR case, the bench allowed DoT more time to consider telco proposals. Though the next hearing relating to the matter is set to be held in the third week of July, the telcos have been asked to submit financial documents in the meantime.

Experts are of the opinion that the domestic currency traded in a narrow bracket today with positive domestic equities and a weak US currency supporting the rupee, while issues such as the rising coronavirus cases, foreign fund outflows and escalation in border tension with China restricted the gains, resulting in the rupee settling on a flat note, up by mere 2 paise at 76.14 against US dollar.

Sensex winners comprised Bajaj Finance soaring by 5.46 per cent, Kotak Mahindra Bank rallying by 5.02 per cent, Axis Bank increasing by 4.10 per cent, HDFC Bank rising by 3.96 per cent, SBI gaining by 3.87 per cent, Power Grid up by 3.70 per cent, HDFC up by 3.41 per cent, etc. Sensex laggards consisted of ONGC dropping by 0.71 per cent, HUL declining by 0.63 per cent, TCS decreasing by 0.52 per cent, Bharti Airtel which fell by 0.48 per cent, etc.

Amidst BSE sectoral indices, Bankex was the biggest gainer up by 3.81 per cent, followed by BSE Finance index which rose by 3.55 per cent and BSE Metal index which gained by 3 per cent. BSE Telecom index and BSE Healthcare index were the losers declining by 0.12 per cent and 0.09 per cent respectively. BSE small-cap index rose by 1.48 per cent while BSE mid-cap index increased by 1.05 per cent.