Sensex and Nifty end higher for eighth session

WION Web Team
NEW DELHI Published: Oct 12, 2020, 10:04 PM(IST)

File photo. Photograph:( Reuters )

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On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards.

Stock market indices ended higher for the eighth straight session on Monday led by gains in IT, pharma and FMCG stocks. However, losses in financials, metals and auto stocks capped the gains. 

The Sensex ended 84 points higher at 40,594 while the Nifty rose 17 points to settle at 11,931.  

On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. Traders said benchmark indices traded with a positive bias through the day, but market participants turned cautious after Finance Minister Nirmala Sitharaman's press conference to announce the stimulus measures.

In a bid to stimulate consumer demand during the festival season and boost the economy, Sitharaman on Monday announced a payment of cash in lieu of LTC and Rs 10,000 festival advance to government employees. She also announced additional capital spending and Rs 12,000 crore, 50-year interest-free loan to states to boost the economy that has been battered by the pandemic and the resulting lockdowns.

(With inputs from agencies)

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