Sensex surges over 900 points; Nifty above 9,000-mark – Times of India

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NEW DELHI: Equity indices jumped on Tuesday in a highly volatile trade with the benchmark BSE sensex rising over 900 points. Sensex gained 909 points or 3.02 per cent to 30,976; while the broader NSE Nifty moved 237 points or 2.70 per cent higher to 9,030.
Major gainers in the BSE pack included IndusInd Bank, HDFC, Maruti, Mahindra & Mahindra, Axis Bank and Hindustan Unilever with their stocks up as much as 11 per cent. On NSE, sub-indices Nifty Bank and Auto zoomed as much as 5.07 per cent.
Sensex and Nifty had logged their biggest one-day gains ever in absolute terms on Tuesday, tracking global peers amid signs that the Covid-19 pandemic may be peaking in some of the hard-hit countries.
Beginning the holiday-truncated week on a high note, sensex had surged 2,476 points or 8.97 per cent to settle the day at 30,067; while the NSE barometer zoomed 708 points or 8.76 per cent to close at 8,792 — the best session ever for both indices in absolute terms and the biggest since May 2009 in percentage wise.
Tuesday’s nearly 9 per cent gain was sensex’s biggest percentage rise since May 18, 2009 when it had closed almost 20 per cent higher after Manmohan Singh was re-elected to lead the UPA-II government at the Centre.
On the global front, Asian stocks stepped back on Wednesday after two sessions of sharp gains as investors turned wary on getting too optimistic about the coronavirus while death tolls were still mounting across the globe.
“Data shows the recent move higher has been accompanied by short covering and de-risking rather than active risk taking on the long side,” analysts at JPMorgan told news agency Reuters.
Meanwhile, the nationwide tally of confirmed COVID-19 cases neared 5,200.
(With agency inputs)

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