Benchmark indices saw a solid rally in trade today, with the Nifty and the Sensex ending the day sharply higher, thanks to robust global cues. In the process they also hit 4-months high
A sudden bull sentiments drove markets across the globe, with the Shanghai Composite ending the day with almost six per cent gains. All of the major Asian markets ended the day higher, while most of Europe was trading higher by at least 1.5 per cent.
The Nifty ended the day higher by 156 points at 10,763 points. Metal and auto stocks clearly led the rally, with Mahindra and Mahindra among the top Nifty gainers. Most of the auto stocks ended higher, after reports that there was significant rural demand for autos. Tata Motors was another automobile stock that did well and rallied more than 4 per cent in trade.
Among the Nifty laggards in trade were ITC, GAIL, Bajaj Auto and Wipro. The midcap and the smallcap index too performed inline with the benchmark index and ended almost 1.5 per cent higher.
Among the metal stocks, Hindustan Copper led gainers. Shares in Himatsingka Seide fell as much as 6 per cent, after the company reported a loss of of Rs 68.8 crore for the quarter ending March 31, 2020.