Sensex rallies over 600 points; banking, finance stock surge

Mumbai, June 8

Equity benchmark Sensex rallied over 600 points in early trade on Monday led by gains in index-heavyweights Reliance Industries, HDFC Bank and ICICI Bank amid positive cues from global markets and sustained foreign fund inflow.

After hitting a high of 34,927.80, the 30-share index was trading 608.59 points, or 1.77 per cent, higher at 34,895.83.

Similarly, NSE Nifty surged 184.60 points, or 1.82 per cent, to 10,326.75.

IndusInd Bank was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Titan, Axis Bank, SBI, Bajaj Finance, ONGC, ICICI Bank, Lamp;T, HDFC Bank and NTPC.

Stock Market of Reliance Industries (RIL) jumped around 2 per cent after the company on Sunday said it sold 1.16 per cent stake in its digital unit Jio Platforms to Abu Dhabi Investment Authority for Rs 5,683.5 crore.

This is the eighth deal by the oil-to-telecom conglomerate for its digital unit in less than seven weeks, completing the sale of the targeted 21 per cent equity in Jio Platforms ahead of a potential Stock Market IPO.

On the other hand, Sun Pharma and Bharti Airtel were the laggards.

In the previous session, the BSE barometer settled 306.54 points or 0.9 per cent higher at 34,287.24 and the …

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