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Sensex, Nifty march northward for sixth consecutive day, here’s what pushed share markets today

Domestic equity benchmarks again displayed an upward march for a sixth consecutive day. S&P BSE Sensex ended the day 284 points or 0.84% higher. At the same time, the 50-stock Nifty ended the day at 10,061 levels. This for the first time in March 11, that the Nifty 50 was seen moving around those levels. Nifty 50 ended the day 141 points lower from the day’s high while BSE Sensex finished 340 points lower from the day’s high.Both the benchmark indices ended the day in the green. It is worth noting that both the indices gave up gains during the second half of the day.

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“Indian equity markets continued to rise for the sixth straight session on June 3, this is the longest winning streak in 7 months. sensex Profit-taking in the last one hour of trade cut the gains to some extent. At the close the Nifty was up 82.40 points or 0.83% at 10061.50. Markets rose on high volumes and were led by gains in Financials, Gas distribution, and Aviation stocks. Auto, Power IT and Cement stocks fell,” said Deepak Jasani, Head Retail Research, HDFC Securities.

Nifty PSU Bank lead all the sectoral indices on NSE sensex that ended in positive, up by 4.35%.“The banking index again led the gains for the market. Favorable global cues, expectation of a good monsoon and the hope that things will slowly get back to normal, all played a part in this relief rally,” said Vinod Nair, Research Head, Geojit Financial Services. Nifty IT ended in the red, down 0.48% and Nifty Metal was down 0.37%.

 

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