Sensex soars over 1,250 points, Nifty regains 9,100-mark as bank and auto stocks rally
New Delhi | Jagran Business Desk: The BSE Sensex on Thursday jumped over 1250 points, while Nifty added more than 350 points to regain 9,100-mark led by gains in auto and bank stocks.
At close, the BSE barometer soared 1,265.66 at 31,159.62, while broader index Nifty gained 354 points to 9,102.
Major gainers in the Sensex pack included Mahindra and Mahindra rising 16.7 per cent, followed by Maruti, Titan, Bajaj Finance, HDFC, and Bajaj Auto.
On the flip side, shares of Hindustan Unilever fell 3.49 per cent, followed by Tech Mahindra and IndusInd Bank.
"Indian markets started trading on a positive note taking upbeat cues from its Asian peers in the morning session as policymakers discussed the process of reopening the global economy as data showed a slowing spread of COVID-19," PTI quoted Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi as saying.
During the afternoon session, market further strengthened on the back of expectations of the second stimulus package estimated at around Rs 1 lakh crore with key focus on helping small and medium businesses, which led to both broad-based buying and also triggered some short covering, he added.
The Centre may soon announce another fiscal package which may be almost similar to the Rs 1.7 lakh crore stimulus unveiledby FM last month, said a report from Bank of America Securities.
Elsewhere in Asia, bourses in Seoul, Hong Kong, and Shanghai ended on a positive note, while Tokyo closed in the red.
In Europe, stock exchanges started significantly higher.
Meanwhile, Brent crude futures rose 4.2 per cent to USD 34.16 per barrel. Rupee provisionally settled 6 paise higher at 76.28 against the US dollar.
According to the Union Health Ministry, the death toll due to the novel coronavirus in India rose to over 160 and the number of cases crossed 5,700. Globally, the COVID-19 infections have crossed 14.8 lakh, with over 88,000 fatalities.
(with PTI inputs)
Posted By: James Kuanal