Sensex up 180 points; metals, pharma stocks rally

WION Web Team NEW DELHI Aug 14, 2020, 01.01 PM(IST)

File photo. Photograph:( Reuters )

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The S&P BSE Sensex added 180 points at 38,490 levels and the Nifty50 index hovered around the 11,350-mark.

Domestic stock market equities rose on Friday, led by gains in metal and bank stocks, as hopes of more stimulus to shore up an economy reeling from the fallout of the covid-19 pandemic boosted sentiment.

The S&P BSE Sensex added 180 points at 38,490 levels and the Nifty50 index hovered around the 11,350-mark. Reliance Industries, Larsen & Toubro, and Sun Pharma (all up 1%) were the top Sensex gainers.

Indian stocks have been hovering around five-month highs after a rare six-day winning streak, while small-cap shares have risen enough to clock a gain in 2020, rallies that many analysts say does not reflect the economic reality.

As an unabated rise in coronavirus cases further dims the economic outlook, some investors are hopeful of further government measures to revive growth, analysts said.

(With inputs from agencies)