Sensex soars 292 points on easing trade war concerns; Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank among top gainers

Domestic equity benchmark BSE Sensex Monday rallied 292 points following the US-China trade war truce that calmed investor jitters globally

Press Trust of India July 01, 2019 17:05:41 IST
Sensex soars 292 points on easing trade war concerns; Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank among top gainers
  • On the other hand, ONGC, HCL Tech, Maruti, HUL, Asian Paints and Vedanta fell up to 3.99 percent

  • Sectorally, BSE realty, auto, finance and bankex were among the top gainers, rising up to 2.59 percent

  • In Asia, shares in China and Japan rose, while Hong Kong and South Korea traded lower

Mumbai: Domestic equity benchmark BSE Sensex Monday rallied 292 points following the US-China trade war truce that calmed investor jitters globally.

After surging over 370 points during the day, the 30-share BSE Sensex settled 291.86 points, or 0.74 percent, higher at 39,686.50. The index hit an intra-day high of 39,764.82 and a low of 39,541.09.

The broader NSE Nifty too jumped 76.75 points, or 0.65 percent, to end at 11,865.60. The index touched an intra-day high of 11,884.65 and a low of 11,830.80.

Top gainers in the Sensex pack included Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank and RIL, rallying up to 3.23 percent.

On the other hand, ONGC, HCL Tech, Maruti, HUL, Asian Paints and Vedanta fell up to 3.99 percent.

Sensex soars 292 points on easing trade war concerns Tata Motors Bajaj Auto HDFC twins IndusInd Bank among top gainers

Representational image. Reuters.

Sectorally, BSE realty, auto, finance and bankex were among the top gainers, rising up to 2.59 percent.

Analysts said domestic equities followed global bullish trading pattern in the wake of US President Donald Trump and Chinese President Xi Jinping agreeing to restart the trade tariff negotiations.

In Asia, shares in China and Japan rose, while Hong Kong and South Korea traded lower.

Indices in Europe were also trading significantly higher in their respective early sessions.

Meanwhile, easing concerns over trade issues between India and the US too boosted market sentiment here, traders said.

Prime Minister Narendra Modi and Trump, at the G20 meeting on Friday, agreed for an early meeting of their commerce ministers to sort out concerns over bilateral trade disputes.

Market is also upbeat amid expectations of reforms from the upcoming Union Budget, they added.

Meanwhile, the Indian rupee slipped 3 paise to 69.03 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, surged 2.75 percent to $66.52 per barrel.

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