Sensex jumps over 1,200 points as banking, IT shares surge; Nifty above 8,600 – Times of India


NEW DELHI: Equity indices continued to rise on Thursday with the benchmark BSE sensex surging over 1,200 points amid gains in IT and banking stocks. Sensex jumped 1,211 points or 4.24 per cent to 29,746; while the broader NSE Nifty moved 312 points or 3.75 per cent up to trade above 8,600.
Traders said that the indices are rallying amid hopes of a fiscal package to help the economy come out of the coronavirus shock.
Top gainers in the BSE pack included IndusInd Bank, Axis Bank, Bajaj Auto, Infosys, ICICI Bank, Bajaj Finance and HDFC with their stocks up as much as 19.99 per cent.
On NSE, sub-indices Nifty Private Bank and IT outperformed by rising as much as 5.02 per cent.
The BSE gauge had shot up 1,862 points or 6.98 per cent to settle at 28,536 on Wednesday, and the NSE barometer spurted 517 points or 6.62 per cent to end at 8,318 – the biggest single-day gain for the indices.
On the global front, the stock remained in the green while anticipating a stimulus package to tide over the financial turmoil caused by the coronavirus pandemic.
In a boost for the global market sentiment, the US Senate and White House reached an agreement on a $2 trillion stimulus package for the American economy.
The deal aims to buttress the teetering economy by giving roughly $2 trillion to health facilities, businesses and ordinary Americans buckling under the strain of the Covid-19.
Meanwhile, the Indian rupee appreciated by 13 paise to 75.81 against the US dollar tracking positive opening in domestic equities.
The number of deaths around the world linked to the coronavirus has crossed over 21,000. In India, more than 600 coronavirus cases have been reported so far.
(With PTI inputs)

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