Markets extend winning run as Reliance sparkles

September 02, 2020 17:15

Equity benchmarks notched up gains for the second straight session on Wednesday, propelled by market heavyweight Reliance Industries amid upbeat global cues. However, border tensions with China and a weakening rupee capped the upside, traders said. After starting on a choppy note, the BSE Sensex gained momentum in late-afternoon trade, before finally closing at 39,086.03, up 185.23 points or 0.48 per cent.

On similar lines, the broader NSE Nifty climbed 64.75 points or 0.56 per cent to close at 11,535. Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, rallying 5.77 per cent, followed by PowerGrid, Tata Steel, IndusInd Bank, Reliance Industries, HCL Tech, ONGC and Infosys. Reliance Industries jumped 1.97 per cent, accounting for over half of the index's gains.

On the other hand, Bajaj Auto, Asian Paints, Sun Pharma, HDFC, Nestle India and HUL were among the laggards, shedding up to 2.62 per cent. "After initially trading with uncertainty, the markets gained strength, in sync with positive global cues. European and Asian markets gained from encouraging economic data which could be assumed as an indicator towards an economic recovery in most of the major economies. -- PTI

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