Thursday, June 17, 2021

Domestic stocks gain 2% in business week ended on Friday

Domestic stocks gained around two percent in the business week ended on Friday. The key indices rose as upbeat corporate earnings reports boosted investor sentiment.

Global stock markets were positive after the US Federal Reserve pledged to maintain easy monetary policy to aid economic recovery.

The Nifty ended above 14,500 level. However, concerns over economic recovery in view of mounting Covid-19 cases in the country capped gains.

During the week, the Sensex climbed 904 points or 1.89 percent to settle at 48,782. The Nifty also gained 290 points or 2.02 percent to settle at 14,631.

The broader market at BSE also rose. Mid-Cap index jumped 1.80 percent and the Small-Cap index surged 3.17 percent.

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