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Markets End Marginally Higher, Banks And Financials Rally

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Benchmark indices ended the day higher led by good gains in banking and finance stocks. Global cues were weak, with European markets seeing cuts of nearly 2 per cent. However, that did not deter Indian markets from notching a fifth straight days of gains.

The Nifty ended the day higher by 36 points, nearly at the 10,800 points mark in trade. Bajaj Finance, IndusInd Bank, Bajaj Finserv and ICICI Bank led gainers in trade today. L&T Finance Holdings too had a good day in trade ending higher, after its subsidiary L&T Infrastructure Finance, received the first tranche of $50 million out of the total $100 million ECB loan from the Asian Infrastructure Investment Bank.

Markets End Marginally Higher, Banks And Financials Rally
 

Shares in ICICI Bank saw good gains nearly 4 per cent ahead of the bank's fund raising plans to be announced on July 8. Reliance Industries, which has been witnessing good buying over the last few days, ended the day 1 per cent lower.

Among the losers from the Nifty space today were Adani Ports, NTPC, Power Grid Corporation, Grasim and ITC.

Meanwhile, the rupee ended the day lower against the US dollar for a second straight day at 74.94 against the dollar.

Read more about: markets banks
Story first published: Tuesday, July 7, 2020, 15:40 [IST]
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