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Sensex surges 900 pts on global cues; Nifty reclaims 9,000; Axis Bank, Tata Motors up 4%

Sensex has surged 900 points on global cues as Nifty regained the 9,000 mark. At 9:41 am Sensex is trading in the upper 30,000 mark as Axis Bank and Tata Motors are up 4 per cent. Pharmaceutical companies like Sun Pharma are also in the green on the back on high use of products due to COVID-19 outbreak.

India TV News Desk India TV News Desk
Mumbai Updated on: April 09, 2020 9:56 IST
Sensex surges 900 pts on global cues; Nifty above 9,000; Axis Bank, Tata Motors up 4%
Image Source : PTI

Sensex surges 900 pts on global cues; Nifty above 9,000; Axis Bank, Tata Motors up 4%

Equity benchmark Sensex soared over 900 points in opening trade on Thursday led by gains in financial, IT and FMCG stocks following rise global equities on hopes of the COVID-19 pandemic approaching its peak.

After hitting a high of 30,847.10, the 30-share BSE barometer was trading 925.67 points or 3.10 per cent higher at 30,819.63.

Similarly, the NSE Nifty was quoting 270.05 points, or 3.09 per cent, up at 9,018.80.

HDFC was the top gainer in the Sensex pack, surging up to 5 per cent, followed by Maruti, Bharti Airtel, Bajaj Finance, Tata Steel, Hero MotoCorp and ICICI Bank.

On the other hand, HUL was the sole laggard.

In the previous session, the BSE barometer closed 173.25 points or 0.58 per cent lower at 29,893.96, and the Nifty settled 43.45 points, or 0.49 per cent, down at 8,748.75.

Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought equity shares worth Rs 1,943.41 crore on Wednesday, according to provisional exchange data.

According to experts, hopes of another financial stimulus hope before the end of the lockdown period buoyed investor sentiment in early session.

Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets, they said.

Bourses in Shanghai, Hong Kong, and Seoul were trading on a positive note, while those in Tokyo were in the red.

Benchmark exchanges on Wall Street ended significantly higher in overnight trade.

Brent crude futures, the global oil benchmark, rose 1.55 per cent to USD 33.34 per barrel.

The death toll due to the novel coronavirus in India rose to 166 and the number of cases to 5,734, according to the Union Health Ministry.

Global tally of the infections has crossed 14.8 lakh, with over 88,000 deaths.

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