Equity indices on upward swing, financial and realty stocks spurt
Published on October 6, 2020 | News Source: ANI
Mumbai, Oct 6: Equity benchmark indices traded higher during early hours on Tuesday as Asian stock markets rose to a two-week high after US President Donald Trump was discharged from hospital following treatment for COVID-19.
For investors, prospects for a fresh US stimulus package appeared to brighten. At 10:15 am, the BSE S&P Sensex was up by 352 points or 0.9 per cent at 39,326 while the Nifty 50 gained by 96 points or 0.84 per cent at 11,600.
Sectoral indices at the National Stock Exchange were mixed with Nifty realty moving up by 2.8 per cent, financial service by 1.6 per cent and private bank by 1 per cent.
Among stocks, Tata Motors was the top gainer after moving up by 6.9 per cent to Rs 143.20 per share. Housing loan major HDFC ticked up by 4.8 per cent, HDFC Bank by 1.6 per cent and IndusInd Bank by 1.5 per cent.
Realty major DLF advanced by 2.9 per cent and Oberoi Realty gained by 1.2 per cent. The other prominent gainers were Mahindra & Mahindra, Asian Paints, Adani Ports and UPL. However, IT stocks dipped with Wipro, Tata Consultancy Services and Infosys losing by over 1 per cent each.
Meanwhile, Asian stock markets rose to a two-week high after US President Donald Trump was discharged from hospital following treatment for coronavirus and as prospects for a fresh US stimulus package appeared to brighten. One of his doctors though cautioned that he may not be out of the woods yet. MSCI's broadest index of Asia Pacific shares outside Japan rose by 0.71 per cent to a two week-high led by Hong Kong climbing by 0.88 per cent. Japan's Nikkei also added 0.41 per cent.