Sensex soars over 1400 points, Nifty regains 8600-mark amid optimism over fiscal stimulus measures by govt
New Delhi | Jagran Business Desk: The market benchmark Sensex on Thursday soared over 1400 points, while Nifty was gained nearly 400 patients as market sentiments turned optimistic over fiscal measures taken by the government in coronavirus-hit sectors.
At 12.10 pm, the 30-share index was trading 1434 points or 5 per cent higher at 1,434, while Nifty 50 rose 391 points at 8,616
In early trade, Sensex had gained 537 points at 29,073, while Nifty was marginally higher at 8,404.
Top gainer in the Sensex pack was IndusInd Bank rallying up to 20 per cent, followed by Axis Bank, Bajaj Auto, ICICI Bank, HDFC and Bajaj Finance.
On the flip side, shares of ITC, Maruti and ONGC were trading in the red.
On Wednesday, the BSE barometer Sensex shot up 1,861.75 points or 6.98 per cent to settle at 28,535.78, and the broader index Nifty 50 spurted 516.80 points or 6.62 per cent to end at 8,317.85 – the biggest single-day gain for the domestic equities.
"Investors are weighing the economic impact of the 21-day lockdown in the country," Traders told PTI
"All eyes are Finance Minister Nirmala Sitharaman's economic package to cushion the economic impact of the lockdown to curb the spread of Covid-19, expected to be announced shortly," they added.
Asian bourses in Hong Kong, Tokyo, Shanghai, Seoul were trading on a mixed note. Stocks on Wall Street had ended with firm gains overnight.
Incessant foreign fund outflow also kept domestic market participants risk-averse, traders said.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold equity shares worth Rs 1,893.36 crore on Wednesday, provisional data showed.
Meanwhile, the rupee rose 4 paise 75.90 per USD. Brent crude futures slipped 0.51 per cent to USD 27.25 per barrel.
The number of fatalities across the world linked to the novel coronavirus has crossed more than 21,000, with over 600 CODVID-19 cases in India.
(with PTI inputs)
Posted By: James Kuanal