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Sensex trades over 300 points higher, Nifty above 10,500; banks surge

Sensex trades over 300 points higher, Nifty above 10,500; banks surge

Sensex trades over 300 points higher, Nifty above 10,500; banks surge
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By Ankit Gohel  Jul 2, 2020 9:51:06 AM IST (Published)

The Indian equity benchmark indices opened higher on Thursday following gains in Asian peers on hopes of the development of a potential coronavirus vaccine.

The Indian equity benchmark indices opened higher on Thursday following gains in Asian peers on hopes of the development of a potential coronavirus vaccine.

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Gains in index heavyweights such as Bajaj Finance, HDFC Bank, IndusInd Bank, Axis Bank among others lifted Nifty above 10,500 levels.
The Sensex opened 189.55 points or 0.54 percent higher at 35,604.00, while the Nifty50 index gained 63.00 points or 0.60 percent to open at 11,399.30. At 9:48 am, the Sensex was trading higher by 359 points at 35,774 while the Nifty50 was trading at 10,534, up 104 points.
Buying in the market was broad-based as Nifty Smallcap100 and Nifty Midcap100 indices were up more than 1 percent each.
All the sectoral indices traded in the green with Nifty Private Bank, Nifty Financial Services, Nifty Metal, Nifty Media and Nifty Auto witnessing most gains.
Mahindra & Mahindra, ONGC, Bajaj Finance, HDFC Bank and Larsen & Toubro were the Nifty50 top gainers, while Coal India, Tech Mahindra and Eicher Motors were the only ones to trade in the red.
Tata Motors shares gained almost 1 percent after the company reported total sales in Q1FY21 at 25,047 vehicles. Ashok Leyland gained more than 1 percent after the company’s sales in June stood at 2,394 vehicles.
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