Indian Stocks Extend Gains for Second Day, IT & Financials Lead Rally

6 Jun 2024 , 04:04 PM

Indian benchmark indices ended higher for the second consecutive session on June 6 amid volatility. At close, the Sensex was up 692 points or 0.9% at 75,074, and the Nifty 50 was up 201 points at 22,821. About 2,700 shares advanced, 703 shares declined, and 68 shares were unchanged.

Major gainers on the Nifty included HCL Technologies, Shriram Finance, SBI Life Insurance, Tech Mahindra, and SBI, while Hindalco Industries, HUL, Asian Paints, Hero MotoCorp, and Nestle were among the losers.

IT, financial services, and oil and gas stocks drove the Nifty higher today. Defensive sectors like FMCG and pharma were the biggest laggards, shedding the previous session’s gains. Nifty Energy, Nifty PSU Bank, and Nifty IT gained 1-3%.

The BSE midcap index gained 2%, while the smallcap index rose 3%. By noon on June 6, the Sensex and Nifty had retreated from their intraday highs, after reaching 74,526 and 22,642, respectively. The rally was led by financial services, oil and gas, and IT stocks in the Nifty index.