Sensex closes 429 points higher, auto and IT stocks lead the rally

Mumbai (Maharashtra) [India], July 2 (ANI): Equity benchmark indices ended strong on Thursday following heavy buying in IT, auto and energy scrips.
The BSE S&P Sensex closed 429 points or 1.21 per cent higher at 35,844 while the Nifty 50 edged up by 122 points or 1.17 per cent at 10,552.
Most sectoral indices at the National Stock Exchange were in the positive zone with Nifty auto gaining by 2.8 per cent and IT by 2.6 per cent.
Among stocks, Mahindra & Mahindra was the top gainer by moving up 6.4 per cent to Rs 531 per share. Hero MotoCorp rose by 5.2 per cent to close at Rs 2,680 per unit.
IT stocks too fared well with HCL Technologies edging higher by 3.4 per cent, Infosys and Tata Consultancy Services by 3.2 per cent each.
Cipla, Titan, IndianOil Corporation, Tata Steel and HDFC also traded with a positive bias.
However, private banks and FMCG majors suffered declines with Axis Bank down by 1.9 per cent, Kotak Mahindra Bank by 0.2 per cent, Hindustan Lever by 0.6 per cent, Nestle India and Britannia by 0.1 per cent each.
Meanwhile, Asian markets traded in the positive zone following positive news overnight around the development of a potential coronavirus vaccine.
A COVID-19 vaccine from Pfizer and Germany's BioNTech has been found to be well tolerated in early-stage human trials.
The Hang Seng index in Hong Kong led gains among the region's major markets, rising 2.85 per cent. Japan's Nikkei rose by 0.11 per cent and Shanghai's Composite was up by 2.13 per cent. (ANI)