Sensex, Nifty log 1st gain in four sessions

Mumbai: Market benchmarks Sensex and Nifty broke their three-session losing streak on Monday as gains in power, metal and auto stocks offset losses in banking counters.

After opening 185 points higher, the BSE Sensex was gripped by early volatility and swung about 386 points during the session. The 30-share index finally settled 173.44 points or 0.46 per cent higher at 38,050.78.

Likewise, the NSE Nifty ended 68.70 points or 0.61 per cent up at 11,247.10.

On the Sensex chart, NTPC, Bajaj Auto, Tech Mahindra, ONGC and Maruti were among the major gainers, climbing up to 7.92 per cent.

On the other hand, SBI, Bharti Airtel, RIL, Sun Pharma and ICICI Bank and HDFC Bank ended with losses.

Bourses in Asia, barring Japan, closed significantly higher.

Japan’s Nikkei slumped after the country’s GDP shrank 7.8 per cent in the April-June period compared with the previous quarter.

International crude oil benchmark Brent was trading 0.40 per cent higher at USD 45.13 per barrel.

Analysts, meanwhile, said concerns over rising coronavirus cases around the globe will continue to weigh on investor sentiment.

India’s total COVID-19 cases neared 26.5 lakh and the death toll from the infection climbed past 50,000-mark, official data showed.

Globally, the number of cases surpassed 2.16 crore and deaths topped 7.74 lakh.