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    Opening Bell: Sensex gains 200 points, Nifty opens above 10,350; metals shine

    Opening Bell: Sensex gains 200 points, Nifty opens above 10,350; metals shine

    Opening Bell: Sensex gains 200 points, Nifty opens above 10,350; metals shine
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    By Ankit Gohel   IST (Published)

    The Indian equity benchmark indices opened higher on Monday led by buying in metal, PSU banks, and auto stocks. Gains in Asian peers amid upbeat manufacturing data from China also boosted sentiment.
    The Sensex opened 206.78 points or 0.59 percent higher at 35,168.30, while the Nifty50 index opened at 10,382.60, up 70.20 points or 0.68 percent.
    Broader markets supported gains with Nifty Smallcap100 and Nifty Midcap100 indices up 0.68 percent and 0.98 percent respectively.
    Among sectoral indices, the Nifty Metal index saw most gains, trading 2.31 percent higher followed by Nifty Auto, Nifty PSU Bank, Nifty Financial Services, and Nifty FMCG.
    Nifty IT index was the only to trade in the red.
    Tata Steel, Hindalco Industries, Tata Motors, UPL and Vedanta led the gains among Nifty50 constituents while TCS, Infosys, Sun Pharmaceuticals Industries, Kotak Mahindra Bank and HDFC Bank were the top index losers.
    Tata Steel gained more than 3 percent after the company reported better earnings for European business. Overall, the company reported Q4FY20 consolidated net loss at Rs 1,095.68 crore as against a net profit of Rs 2,430.92 crore, YoY. Consolidated revenue fell 20.40 percent YoY to Rs 33,769.95 crore.
    Axis Bank gained 2 percent ahead of the board meeting to consider fundraising on July 2.
    Central Bank of India plunged over 13 percent after the bank reported Q4FY20 loss at Rs 1,529 crore as against a loss of Rs 2,477.4 crore while net interest income (NII) at Rs 1,925.8 crore versus Rs 1,602.5 crore, YoY.
     
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