Equity indices on upward swing, Bajaj twins top gainers

Mumbai (Maharashtra): The bourses began first trading session of June on a positive note with equity benchmark indices moving up by 2.8 per cent in line with their Asian peers.

The government eased curbs on most economic activities even as the COVID-19 led lockdown in containment zones was extended till June 30.

At 10:15 am, the BSE S&P Sensex was up by 883 points or 2.72 per cent at 33,307 while the Nifty 50 edged higher by 257 points or 2.68 per cent at 9,828.

All sectoral indices at the National Stock Exchange were in the green with Nifty private bank ticked up by 4 per cent, realty and financial service by 3.9 per cent, metal by 3.8 per cent and auto by 2.5 per cent.

Among stocks, Bajaj Finserv and Bajaj Finance gained by 7 and 6.7 per cent respectively. JSW Steel moved up by 6.8 per cent to Rs 196.75 per share while Tata Steel edged higher by 6.5 per cent and Hindalco by 4 per cent.

Private lenders Axis Bank, ICICI Bank and HDFC Bank were up by 5.4 per cent, 4.5 per cent and 3.9 per cent. Tech Mahindra and Mahindra & Mahindra too traded with a positive bias.

However, pharma majors Dr Reddy’s, Cipla and Sun Pharma were in the red with thin margins.

Meanwhile, Asian shares pushed to three-month highs as progress on opening up economies helped offset jitters over riots in US cities and unease between Washington and Beijing.

Hong Kong’s Hang Seng managed to rally 3.6 per cent while Chinese blue chips put on 2.2 per cent. That helped lift MSCI’s broadest index of Asia Pacific shares outside Japan 2.1 per cent to its highest since early March.

Japan’s Nikkei added 1.1 per cent to also reach a three-month peak. (ANI)