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Thursday, 20 June 2019

STRONG MARKET

Sensex soars 489 points amid strong cues from global markets after US Fed hints at rate cut in near future




  • Mumbai: The BSE Sensex rallied 489 points Thursday, driven by gains in banking, healthcare and auto stocks, amid strong cues from the global markets after the US Federal Reserve hinted at a rate cut in the near future.
  • After gyrating over 700 points during the day, the BSE gauge settled 488.89 points, or 1.25 percent, higher at 39,601.63. The index hit an intra-day high of 39,638.64 and a low of 38,933.78.

  • Similarly, the broader NSE Nifty closed 140.30 points, or 1.20 percent, higher at 11,831.75. During the day, the index touched a high of 11,843.50 and a low of 11,635.05.

  • Yes Bank was the biggest gainer in the Sensex pack, rallying 10.94 percent.


  • Other gainers included Sun Pharma, IndusInd Bank, L&T, ICICI Bank, Maruti, Bajaj Auto, Tata Motors and ONGC, rallying up to 4.01 percent.

  • HUL, HDFC Bank, ITC and NTPC were the only losers in the index, shedding up to 0.26 percent.

  • Meanwhile, shares of Jet Airways witnessed a massive rebound, ending 93 percent higher, after tanking nearly 90 percent in the past 13 sessions.

  • According to experts, domestic investors took cues from firm global markets that rallied after the US Federal Reserve's policy outcome.

  • The US central bank Wednesday left the interest rates unchanged, but indicated it will not hesitate to cut rates to boost the economy amid growing uncertainties.

  • Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher. Equity markets in Europe too were trading in the green in early deals.

  • Hopes of a breakthrough in US-China trade talks too boosted global investor sentiment, traders said.

  • On the currency front, the Indian rupee appreciated 11 paise to 69.57 against the US dollar intra-day.

  • Brent crude futures, the global oil benchmark, rose 2.67 percent to $63.47 per barrel amid a flare up in geopolitical tensions in the Middle East.

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