Gains in auto, metal, consumer goods and pharma shares pushed the markets higher
Domestic stock markets pushed through choppy trade in the first half of the session, with benchmark indices Sensex and Nifty continuing to rise after a day’s halt. The S&P BSE Sensex index rose 598.53 points – or 1.55 per cent – to touch the 39,226.82 mark at the strongest level during the session, whereas the broader NSE Nifty 50 benchmark climbed to as high as 11,553.55, up 166.05 points – or 1.46 per cent – from its previous close. Gains in automobile, metal, consumer goods and pharmaceutical shares pushed the markets higher.
The Sensex ended 272.51 points – or 0.71 per cent – higher at 38,900.80, and the Nifty settled at 11,491.25, up 103.75 points – or 0.91 per cent – from its previous close.
Data after market hours on Monday showed the country’s economy contracted 23.9 per cent in the June quarter, much worse than estimates, and pointing to a longer-than-expected recovery.
