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Monday, May 25, 2020

Sensex surges 622 points; HDFC rallies over 5 per cent

The 30-share index settled 622.44 points or 2.06 per cent higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11 cent, to end at 9,066.55.

By: PTI | Mumbai | Updated: May 20, 2020 4:17:37 pm
bse, bse sensex, investors wealth, covid 19, coronavirus, covid 19, business news, indian express BSE in Dalal Street, Mumbai. (Express photo by Nirmal Harindran)

Equity benchmark Sensex rallied 622 points on Wednesday, propelled by gains in index-heavyweights HDFC twins and Reliance Industries despite weak cues from global markets.

The 30-share index settled 622.44 points or 2.06 per cent higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11 cent, to end at 9,066.55.

HDFC was the top gainer in the Sensex pack, surging over 5 per cent, followed by M&M, L&T, Tata Steel, Bajaj Finance, HDFC Bank and Sun Pharma.

On the other hand, IndusInd Bank, Hero MotoCorp, Bharti Airtel and Asian Paints finished in the red.

While stock-specific action led benchmarks higher, experts forecast continued volatility in the near-term amid rising number of coronavirus cases in the country.

The number of COVID-19 cases in India spiked to 1.06 lakh, while the death toll rose to 3,303, according to the health ministry.

Globally, the number of cases linked to the disease has crossed 48.97 lakh and the death toll has topped 3.23 lakh.

Bourses in Hong Kong, Tokyo and Seoul settled with gains, while Shanghai ended in the red.

Stock exchanges on Europe were trading with losses in early deals.

International oil benchmark Brent crude futures climbed 1.24 per cent to USD 35.08 per barrel.

On the currency front, the rupee depreciated by 14 paise to provisionally end at 75.80 against the US dollar.

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