Sensex zooms over 600 points, Nifty above 10,800-level - Bulls that drive market

Majority of stocks and sectors have witnessed buying sentiments. Investors are upbeat in Indian market tracking their global counterparts.

Jul 06, 2020 01:07 IST India Infoline News Service

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The benchmark Sensex has advanced by more than 600 points on Monday with an intraday high of 36,644.59, while the Nifty 50 is hovering nearly 10,800-mark during the second half of the trading session. At around 1.34 pm, the Sensex was above 602.07 points or 1.67% trading at 36,623.49. Whereas as the 50-scrip index soared by 194.90 points or 1.84% trading at 10,802.25.

Majority of stocks and sectors have witnessed buying sentiments. Investors are upbeat in Indian market tracking their global counterparts as investors hopes are pinned on policy support and improvement in economies against the rapidly spreading global Covid-19 cases.

The gainers list on Sensex saw auto-giant M&M take lead by trading at Rs560.55 per piece, up by 5.70%. M&M was joined by stocks like Bajaj Finance, HDFC Bank, IndusInd Bank, Tech Mahindra and Reliance Industries rising between 3.50% to less than 5%.

The Indian market's performance is tracking global cues. In the second half, the MSCI’s broadest index of Asia-Pacific shares outside Japan soared 1.6% to its highest since February, as the bullish sentiment spills into other markets.

According to Reuters report, Asian shares scaled four-month peaks on Monday as investors counted on a revival in Chinese activity to boost global economic growth, even as surging coronavirus cases delayed business re-openings across the United States.

Further, the report added, eyes were on Chinese blue chips, which jumped 5.4% on top of a 7% gain last week, to their loftiest level in five years. Even Japan’s Nikkei, which has lagged with a soft domestic economy, managed a rise of 1.8%.

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