Sensex marked consecutive growth for the 4th day surging 997.46 points closing at 33717.62. Also, Nifty touched the 9850 today soaring by 306.55 points to 9859.90. Overall, Sensex and Nifty gained more than 3%.
ONGC gained the most in today’s session from the Sensex pack with over 13%. Gainers in Nifty included Tata Motors, HCL Tech, Hero MotoCorp and Maruti. All sectors ended high and in green except Pharma sector that lost value today. Around 1% growth was noticed in BSE Midcap and Smallcap indices.
Top Gainers- Sensex and Nifty
Tata motors topped the list with gaining around 19.96% in today’s session. Other major gainers include UPL, ONGC and Vedanta Ltd with 14.53%, 13.12% and 12.19% respectively. Some more stocks that marked growth of around 10% were JSW Steel, HCL Tech, Hero MotoCorp and Hindalco.
The hopes of Indian investors lifted as Gilead’s drug test report came positive and began to gain momentum around the world for relaxation on lockdown restrictions. Glenmark Pharmaceuticals share price rose around 8% after announcing the first-ever approval from DCGI for conducting trials of tablets used to treat COVID-19.
Top Losers- Sensex and Nifty
Sun Pharma was down by 2.44% followed by Hindustan Unilever, Cipla, IndusInd Bank, ITC and Asian Paints suffered losses of 1.20%, 1.05%, 0.66%, 0.60% and 0.31% respectively.
Today’s equity market experienced good overall growth.
Foreign Institutional Investors invested INR 1968.80 crores more in Indian equity market raising the hopes. They bought stocks of around INR 8792.04 crores and sold shares of value INR 6823.24 crores. The rising stock market and increasing Indian Rupee value helped increase in net value investment from foreign investors.
Domestic Institutional Investors bought stocks of value INR 5919.28 crores and sold shares of value around INR 5340.25 crores. Thus, marking a net increase of INR 579.03 crores in the Indian stock market by domestic investors.
The positive testing of Coronavirus drug marked upliftment of Indian market and raised hopes for fast recovery of the economy.