<p>Equity benchmark Sensex rallied 986 points on Friday, led by gains in banking, energy and IT stocks after the Reserve Bank announced a slew of liquidity-boosting measures to support the economy during the <a href="http://www.deccanherald.com/tag/coronavirus" target="_blank">coronavirus</a> crisis.</p>.<p>The RBI further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points.</p>.<p>After starting over 1,116 points higher, the 30-share BSE benchmark pared some early gains to end 986.11 points or 3.22 per cent higher at 31,588.72.</p>.<p>Similarly, the NSE Nifty zoomed 273.95 points, or 3.03 per cent, to finish at 9,266.75.</p>.<p>Axis Bank was the top gainer in the Sensex pack, surging over 13 per cent, followed by ICICI Bank, IndusInd Bank, Maruti, TCS, Kotak Bank and Reliance Industries.</p>.<p>On the other hand, Nestle India, HUL, Tech Mahindra and Sun Pharma ended in the red.</p>.<p>Interest rate sensitive, banking, financial, auto and realty indices settled up to 6.83 per cent higher.</p>.<p>In his second televised address since the nationwide lockdown began on March 25, Reserve Bank of India (RBI) Governor Shaktikanta Das pledged to boost liquidity and expand bank credit.</p>.<p>He announced measures including a cut in the reverse repo rate, Rs 50,000-crore targeted long-term repo operations (TLTRO) and refinancing facilities for Nabard, Sidbi and NHB.</p>.<p>The rupee rebounded 48 paise to provisionally settle at 76.39 against the US dollar, buoyed by RBI announcements.</p>.<p>Market ended on a firm note tracking positive global cues and announcement of stimulus package by the RBI, said Sanjeev Zarbade, VP PCG Research, Kotak Securities.</p>.<p>Further, reports from the US that a drug from Gilead is showing great results in treating Covid-19 cases also led to positive sentiments, he added.</p>.<p>Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant gains, and stock exchanges in Europe were also trading on a strong note.</p>.<p>Meanwhile, Brent crude futures, the global oil benchmark, rose marginally to USD 27.84 per barrel.</p>.<p>The death toll due to Covid-19 rose to 437, while the number of cases in the country climbed to 13,387.</p>.<p>Global tally of the infections has crossed 21 lakh, with over 1.45 lakh deaths.</p>
<p>Equity benchmark Sensex rallied 986 points on Friday, led by gains in banking, energy and IT stocks after the Reserve Bank announced a slew of liquidity-boosting measures to support the economy during the <a href="http://www.deccanherald.com/tag/coronavirus" target="_blank">coronavirus</a> crisis.</p>.<p>The RBI further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points.</p>.<p>After starting over 1,116 points higher, the 30-share BSE benchmark pared some early gains to end 986.11 points or 3.22 per cent higher at 31,588.72.</p>.<p>Similarly, the NSE Nifty zoomed 273.95 points, or 3.03 per cent, to finish at 9,266.75.</p>.<p>Axis Bank was the top gainer in the Sensex pack, surging over 13 per cent, followed by ICICI Bank, IndusInd Bank, Maruti, TCS, Kotak Bank and Reliance Industries.</p>.<p>On the other hand, Nestle India, HUL, Tech Mahindra and Sun Pharma ended in the red.</p>.<p>Interest rate sensitive, banking, financial, auto and realty indices settled up to 6.83 per cent higher.</p>.<p>In his second televised address since the nationwide lockdown began on March 25, Reserve Bank of India (RBI) Governor Shaktikanta Das pledged to boost liquidity and expand bank credit.</p>.<p>He announced measures including a cut in the reverse repo rate, Rs 50,000-crore targeted long-term repo operations (TLTRO) and refinancing facilities for Nabard, Sidbi and NHB.</p>.<p>The rupee rebounded 48 paise to provisionally settle at 76.39 against the US dollar, buoyed by RBI announcements.</p>.<p>Market ended on a firm note tracking positive global cues and announcement of stimulus package by the RBI, said Sanjeev Zarbade, VP PCG Research, Kotak Securities.</p>.<p>Further, reports from the US that a drug from Gilead is showing great results in treating Covid-19 cases also led to positive sentiments, he added.</p>.<p>Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant gains, and stock exchanges in Europe were also trading on a strong note.</p>.<p>Meanwhile, Brent crude futures, the global oil benchmark, rose marginally to USD 27.84 per barrel.</p>.<p>The death toll due to Covid-19 rose to 437, while the number of cases in the country climbed to 13,387.</p>.<p>Global tally of the infections has crossed 21 lakh, with over 1.45 lakh deaths.</p>