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Indian markets appear to have absorbed Brexit concerns

| | Jun 30, 2016, at 10:59 pm
#Sensex #Nifty #Indian stock market #Brexit #Monsoon
Mumbai, Jun 30 (IBNS): Indian benchmark indices appear to have overcome Brexit concerns and went back to its pre-Brexit range on Thursday, with the Sensex going up 259.33 points to 26999.72 and the Nifty going up up 83.75 points to 8287.75.
Hopes of a good monsoon and the likely clearance of the GST Bill in the upcoming monsoon session of the Parliament also boosted market sentiments.
 
The pay hike declared by the central government for its employees and pensioners is encouraging news for many sectors. Auto stocks extended their gains on Thursday, with Tata Motors, Bajaj Auto, Maruti Suzuki, Mahindra & Mahindra and Hero MotoCorp featuring among the gainers.
 
Other stocks that gained on Thursday were Hindalco Industries, Axis Bank, ICICI Bank, Dr Reddy's Labs, L&T, HUL, Asian Paints, Bharti Airtel, and NTPC.
 
Sun Pharma, HDFC Bank and Infosys featured among the losing stocks on Thursday.
 
Reserve Bank of India (RBI) Governor Raghuram Rajan on Thursday met Union Finance Minister Arun Jaitley in the national capital, fuelling some speculations since Rajan had earlier announced not to seek a second term amid an attack on him by BJP MP Subramanian Swamy. 

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