Indian markets mark their 3rd biggest gain ever; Nifty surge past 8000-mark
Indian equity markets are ralliedon Thursday marking their third-biggest gain ever despite a three-week nationwide lockdown announced, on the back of expectation of the relief package.
Markets close withSensex up 1,861.75 points andNifty up 490.75.
Indian equities rally over 6%; Nifty surges past 8000-mark
Indian equity markets are rallying on Thursday despite a three-week nationwide lockdown announced, on the back of expectation of the relief package.
Shares of Reliance Industries surge by 20%
Shares of Reliance Industries surge by 20%.The company is an F&O stock which means no circuit breaker applies to it.
Sensex Nifty surge over 6%
Sensex at 28,490.12, up1,816.09 points and Nifty at 8,305, up by 504 points
Reliance, Axis top gainers
Mukesh Ambani-controlled Reliance Industries was up 11.76%, while Maruti surged 8.46%. However, the biggest gainer of the day, till now, has been Axis Bank (14.38%) -- which had seen its shares battered over the months.
On the other hand, the broader index 50-share NSE Nifty surged past 8,000-mark and was trading at 8,265.00, 463.95 points (5.95%).
Hopes of relief from govt pushes Nifty
"Nifty has been holding 7500-7700 zones from the last three sessions and hold above 8300 zones could extend its bounce towards 8555, then 8888 zones. Nifty managed to hold 7700 zones and sharply bounced to 8250 zones amid hope of the Industry package from the Indian govt to fight the slow down because of Coronavirus," Chandan Taparia, Motilal Oswal, to DH.
Sensex surges above 6%
After seeing volatility in the morning, in the afternoon, the market gained momentum and surged by over 5% due to support based buying, short-covering, recovery in global markets and hope of stimulus from the government for the industry.
Investors are accumulating heavy weights
Deep dive into markets shows that the rally is coming from the heavyweights buying only.
Sensex at 28,289.14, surging 1,615 points or 6.05%
Nikkei posts biggest gain since 2008 on Wall Street surge, US stimulus
The Nikkei average closed at 19,546.63 points after its sharpest one-day advance since the peak of the global financial crisis in October 2008.
On top of big US stimulus, buying by the Bank of Japan and likely also by the country's pension fund, triggered a wave of short-covering.
Expectations of the government announcing a relief package is also playing a big role in the rally
Index heavyweights are lifting the markets: RIL is up 10%, Maruti 9% and HDFC Bank 8%
Indices extend rally, Sensex at 28,248.92, jumps 1,574.89, Nifty at 8,245
Benchmark indices extend the gains with Nifty above 8,000 level supported, Auto, Banks, Infra stocks in focus. Sensex jumps 1,100 pts
Sensex tests 27,000 level, up 326.87
On Tuesday, Dow was up over 11%, its highest percentage gain since 1933
D-Street sees choppy trade as indices swing both way. Sensex gains 72 points at 26,746.81, Nifty at 7,825
Markets in green again as Sensex up 82 points, at 26,756.79 at 10:33, Nifty at 7,829, up 39 points
Sensex starts over 600 pts higher, pares gains
Equity benchmark Sensex jumped over 600 points in the opening session on Wednesday after the government took drastic measures to combat the COVID-19 outbreak with Prime Minister Narendra Modi announcing a complete lockdown of the country for 21 days.
Indices firm as Sensex drops 17 points at 26,656.13, Nifty at 7799
Banks, media, and auto are the worst hit sectors on exchanges.
After opening cheer, D-street turns negative. Sensex at 26,395.04 down 278.99 points or 1.05%, Nifty at 7,730 down by over 70 pts
Sensex slips lower, at 26,629.11 down 44.92 points, Nifty at 7,808
Banking stocks, especially those of private banks, continue to bleed. IndusInd Bank continues to be top loser on BSE Sensex, down over 5%.
However initial market breadth is negative. On BSE, there are 301 declines against 159 advances.
Crude, WTI extend gains
Oilprices extended gains for a third session, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
UScrude touched a high of $25.10 a barrel early in the session and was at $24.61 a barrel, up 60 cents, or 2.5%, by 1243 GMT.
Brent crude was trading up 49 cents, or 1.8%, at $27.64 a barrel.
In a surprising rebound, D-street opens in green as Sensex opens up over 200 pts
Indices lower at pre-open, Sensex at 26,499.81 down 174.22 points and Nifty was at 7,735
Asian markets see rally
Asian shares extended their rally on Wednesday in the wake of Wall Street's massive rebound as the U.S. Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.7% with Australian shares jumping 3.4% and South Korean shares gaining 3.5%. Japan's Nikkei surged 4.8%.
SGX Nifty over 150 points or 2.20% lower, indicating Sensex, Nifty likely to open lower today
Dollar pulls back
The dollar slowed its decline and gains in riskier currencies petered out on Wednesday, as rising coronavirus cases keptmarketson edge and parts of the greenback fundingmarkettight.
Gold inches up
Gold prices inched up in volatile trade on Wednesday, as growing hopes for a massive U.S. economic stimulus package to stem the coronavirus outbreak's economic toll offset liquidation by investors looking for cash and to cover losses in other assets. Spot gold was up 0.1% at $1,611.73 per ounce by 0230 GMT, after rising as much as 1.6% earlier in the day.
Benchmark spot gold prices continued to trade below U.S. gold futures in a sign that themarketis worried air travel restrictions and precious metal refinery closures will hamper shipments of bullion to the United States to meet contractual requirements.
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