Sensex Rises 465 Points to End at 36,487, Nifty at 10,763 As Investors Shrug Off Rising COVID-19 Concerns

Team Latestly
·1-min read

Mumbai, July 6: The Indian stock markets started the week on a positive note, and continued to rally in the green for the entire trading session. The Sensex zoomed 465 points to end at 36,487. NSE Nifty, on the other hand, settled at 10,763 on Monday. Asian shares held near four-month highs on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery inspite of the surging coronavirus cases delayed reopenings across the United States.

Also Read | Sensex up 140 Points at 35,983, Nifty Crosses 10,590 Amid Positive Global Cues After Robust June 2020 US Jobs Report

The US stock markets were shut on Friday on account of Independence Day. The number of coronavirus cases in India has inched closer to the 7 lakh mark and is now among the third-worst hit nations hit by the coronavirus pandemic. India surpassed Russia as the total number of COVID-19 cases increased to 6.97 lakh cases on Monday. Coronavirus Tally in India Inches Closer to 7 Lakh Cases, Country Becomes 3rd Worst-Hit Nation, Death Toll at 19,693.

According to the Reuters report, the Indian rupee opened higher by 14 paise at 74.50 per dollar against the previous close of 74.64, amid buying seen in the domestic equity market. On July 3 rupee ended 37 paise higher at 74.64 per dollar.

Also Read | Sensex Ends 429 Points Higher at 35,843, Nifty Settles at 10,550; IT, Auto Stocks Lead Rally