Sensex surges over 300 points in early trade

Marco Green
August 10, 2020

On Monday, the stock market closed on the green mark strongly.

The blue-chip NSE Nifty 50 index .NSEI , which climbed 1.1% during the session, closed 0.5% higher at 11,270.15, while the S&P BSE Sensex .BSESN ended up 0.37% at 38,182.08.

The stock market opened strongly in the morning. About 1723 shares have advanced, 996 shares declined, and 166 shares are unchanged. At the same time, the National Stock Exchange's Nifty opened 57.40 points at 11,271.45 level. The Nifty was trading 67.50 points at 11,281.55 in early trade, while the Sensex was up 228.55 points at 38,269.12.

Among the Sensex stocks, Mahindra & Mahindra gained 4.95 per cent.

The gainers were M& M by 5.57 pc to Rs 634.05, L& T by 4.73 pc to Rs 959, Sun Pharma by 2.36 pc to Rs 538.30, Kotak Bank by 2.04 pc to Rs 1369.45 and SBI by 1.97 pc to Rs 194.40. The Bombay Stock Exchange (BSE) Sensex opened 128 points higher at 38,168.42 in the morning and reached 38,412 shortly after 9.43 in the morning with a strong strength of 372 points.

On the other hand, Maruti, Tata Steel and Nestle India were the laggards.

Meanwhile, Rupee ended at 74.90 per United States dollar vs Friday's close of 74.93/$.

According to traders, market sentiment was positive tracking firm cues from other Asian indices and consistent foreign fund inflow.

Global oil benchmark Brent crude was trading 0.97 per cent higher at United States dollars 44.83 per barrel. The Mumbai-based drug maker Cipla on Friday reported a net profit of Rs 577.91 crore for the quarter ended June 30, marking an increase of 20.85 per cent compared to the corresponding period a year ago.

Other reports by Click Lancashire

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