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Indian shares mark their best day; Sensex surges 2,476 points

Similarly, broader index 50-share NSE Nifty surged by 702.10 points (8.69%) to 8,785.9
Last Updated 07 April 2020, 10:38 IST

Indian equities, on Monday, marked their best daily run ever in terms of points as both indices surged by close to 9 per cent and Sensex closed above 30,000 mark on hopes of flattening of the COVID-19 curve globally.

The 30-share benchmark index BSE Sensex opened on a positive note and witnessed heavy buying throughout the day. At the end of day's trading, BSE Sensex closed with a gain of 2,476.26 points (9%) at 30,067.21.

The rally on Sensex was led by IndusInd Bank which surged by 25 per cent, followed by Axis Bank (20%), HUL (14%). The overall sentiment in markets was heavily positive with 1,842 advances against 532 declines.

During the day, equity investors pared losses made in the past month by Rs 7.86 lakh crore.

Similarly, broader index 50-share NSE Nifty surged by 702.10 points (8.69%) to 8,785.9.

Among the sectoral indices, the buying was led by the Banks as Nifty Banks surged 10.42 per cent, followed by Nifty Auto, which surged by 9.40 per cent.

The buying interest was led by the short-covering activity

"Nifty index opened positive and witnessed sustained buying interest led by short covering activities. It managed to surpass the immediate hurdle of 8555 zones and headed to 8800 zones. We have seen a decline in India VIX by 6 per cent at 52 marks and volatility has been falling from the last 4 consecutive sessions. Now Nifty has to hold above 8555 zones to extend its move towards 9000-9200 zones," said Chandan Taparia of Motilal Oswal.

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(Published 07 April 2020, 10:38 IST)

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