Sensex Surges 450 Points; HDFC Bank & IndusInd Bank Top Gainers

Share markets in India are trading on a positive note. Benchmark indices rallied over 1% today tracking massive buying momentum in Asian peers and foreign fund inflows.

Asian share markets scaled four-month peaks as investors counted on fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States.

The BSE Sensex is trading up by 468 points, up 1.3%, at 36,500 levels. Meanwhile, the NSE Nifty is trading up by 160 points.

The BSE Mid Cap index is trading up by 1%. The BSE Small Cap index is trading up by 1.2%.

On the sectoral front, gains are largely seen in the energy sector and banking sector.

The rupee is trading at 74.66 against the US$.

Gold prices are trading down by 0.3% at Rs 47,922 per 10 grams.

Speaking of the current stock market scenario, investors and traders who are new to stock markets have had a superb experience over past three months as almost any and every stock has given them phenomenal returns.

Moving on, market participants are tracking Reliance Industries' share price. Shares of the company hit a fresh record high of Rs 1840 after the company bagged 12th foreign investment for its digital arm Jio Platforms on Friday.

The company's market capitalization breached the Rs 11.5 trillion mark in early trade today. The company had breached the Rs 11 trillion mark on June 19 when it announced that it has become net-debt free well ahead of its deadline of March 2021.

In the past two months, Jio has raised Rs 1.17 trillion through stake sales to ramp up its digital services business and expedite its debt reduction goals.

In news from the realty sector, Sobha and Oberoi Realty are among the top buzzing stocks today.

Shares of the company surged over 4% today after it issued an operational update for the first quarter of the financial year 2020-21.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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