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Sensex reclaims 32,000-mark, auto stocks lead the rally

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Mumbai (Maharashtra) | May 28, 2020 4:11:39 PM IST
Equity benchmark indices gained 1.8 per cent on Thursday on the back of positive global cues with autos and private banks leading the buoyancy in market sentiment.

The BSE S&P Sensex closed 595 points or 1.88 per cent at 32,201 while the Nifty 50 edged higher by 175 points or 1.88 per cent at 9,490.

Except for Nifty PSU bank, all sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 3.6 per cent, private bank by 2.7 per cent, financial service by 2.6 per cent and metal by 2.4 per cent.

Among stocks, Eicher Motors jumped by 7.3 per cent to close at Rs 16,065 per share. Hero MotoCorp accelerated by 5.1 per cent and Maruti Suzuki by 3.9 per cent.

Private lenders HDFC Bank and IndusInd Bank gained by 4.8 per cent and 4.1 per cent respectively while engineering and infrastructure major L&T was up by 5.7 per cent.

However, Wipro, ITC, Cipla, State Bank of India, and JSW Steel traded with a negative bias.

Meanwhile, Asian shares and US stock futures were mixed amid growing optimism about the economic recovery from coronavirus pandemic overcome concerns about a standoff between the United States and China over Hong Kong.

Japan's Nikkei stock index rose by 1.28 per cent to the highest since early March while Hong Kong's Hang Seng slipped by 0.72 per cent after China's parliament passed the proposal to impose a new national security law for the island territory despite US condemnation. (ANI)

 
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