Sensex gains by over 1 per cent; RIL, HDFC Bank and TCS are top index contributors

Continuing gains for the fourth consecutive trading session, domestic benchmark indices closed with Sensex at 36,487.28 that is 456.86 points or 1.29 per cent higher than its previous close while Nifty rose by 156.30 points or 1.47 per cent to close at 10,763.65.

Responding to positive global cues and following optimism about vaccine research, domestic markets inched up during today's trading session. Investors' confidence was boosted with higher hopes of economic recovery with recent economic data showing that economic activity is stabilizing on month-on-month basis with auto sales especially of two-wheeler and tractors, depicting a revival of the rural economy. The Markit Manufacturing PMI was much above the consensus of 37.5 to 47.2 in June from 30.8 the previous month.

On Monday, Chinese markets witnessed a surge allowing bulls to be in charge as the country is currently less affected by Coronavirus and is riding the hope that the central bank will further ease out and create more credit and monetary expansions. Shanghai index was witnessed soaring by 5.71 per cent. As a result of the much needed confidence in Asian markets, other regional indices such as Hang Seng, Nikkei and KOSPI jumped by 3.81 per cent, 1.83 per cent and 1.65 per cent respectively. European indices such as FTSE 100, DAX and CAC 40 opened higher by 2.02 per cent, 1.91 per cent and 1.85 per cent respectively.

Sensex winners included Mahindra & Mahindra rallying by 7.58 per cent, Bajaj Finance soaring by 6.04 per cent, RIL gaining by 3.57 per cent, Maruti Suzuki increasing by 3.24 per cent, TCS rising by 2.91 per cent, HDFC Bank up by 2.68 per cent, Tata Steel gaining by 2.67 per cent, etc. Sensex losers comprised Bajaj Auto dropping by 1.29 per cent, HDFC declining by 0.90 per cent, Bharti Airtel decreasing by 0.79 per cent, HUL dipping by 0.48 per cent and HCL Technologies down by 0.17 per cent.

Amidst sectoral gainers on BSE, the biggest gainer was Energy index, up by 2.97 per cent followed by Realty index, Auto index and Metal index increasing by 2.95 per cent, 2.93 per cent and 2.56 per cent respectively. BSE small-cap index rose by 1.30 per cent and BSE mid-cap index gained by 1.27 per cent.