The domestic equity market ended with over 4 per cent gains on Thursday, in line with global peers that gained on hopes that the coronavirus pandemic was nearing its peak globally. That apart, hopes of more stimulus measures by the government also kept the investor sentiment upbeat.
The S&P BSE Sensex jumped 1,266 points or 4.23 per cent to settle at 31,160 amid heavy buying in index heavyweights such as HDFC, HDFC Bank, ICICI Bank, Reliance Industries (RIL), and Maruti. NSE's Nifty reclaimed the crucial 9,000 levels to end at 9,112, up 363 points or 4 per cent.
On a weekly basis, both Sensex and Nifty added around 13 per cent.
In the broader market, the S&P BSE MidCap index ended over 3.63 per cent higher at 11,374 and the S&P BSE SmallCap index added over 3 per cent to 10,294.
On the sectoral front, all the indices on the NSE ended in the green with the Nifty Auto index jumping over 10.5 per cent to 5,569 levels. Volatility index India VIX declined over 5 per cent to 49.56 levels
Global shares rose on Thursday on hopes the Covid-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
European stock markets gained for a fourth straight day. The pan-European STOXX 600 index was up 1.7 per cent, with battered travel and leisure stocks, autos, and mining companies leading early gains.
MSCI’s All-Country World Index, which tracks shares across 49 countries, was up 0.5 per cent to its highest since March 12.
US stock futures were up 1 per cent after bouncing in and out of positive territory in Asia.
Shares in China, where the novel coronavirus first emerged late last year, rose 0.42 per cent. Australian shares were up 2.54 per cent.
In commodities, oil prices rose on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.
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| Brokers trade at their computer terminals at a stock brokerage firm in Mumbai |
The S&P BSE Sensex jumped 1,266 points or 4.23 per cent to settle at 31,160 amid heavy buying in index heavyweights such as HDFC, HDFC Bank, ICICI Bank, Reliance Industries (RIL), and Maruti. NSE's Nifty reclaimed the crucial 9,000 levels to end at 9,112, up 363 points or 4 per cent.
On a weekly basis, both Sensex and Nifty added around 13 per cent.
In the broader market, the S&P BSE MidCap index ended over 3.63 per cent higher at 11,374 and the S&P BSE SmallCap index added over 3 per cent to 10,294.
On the sectoral front, all the indices on the NSE ended in the green with the Nifty Auto index jumping over 10.5 per cent to 5,569 levels. Volatility index India VIX declined over 5 per cent to 49.56 levels
Global Markets
Global shares rose on Thursday on hopes the Covid-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
European stock markets gained for a fourth straight day. The pan-European STOXX 600 index was up 1.7 per cent, with battered travel and leisure stocks, autos, and mining companies leading early gains.
MSCI’s All-Country World Index, which tracks shares across 49 countries, was up 0.5 per cent to its highest since March 12.
US stock futures were up 1 per cent after bouncing in and out of positive territory in Asia.
Shares in China, where the novel coronavirus first emerged late last year, rose 0.42 per cent. Australian shares were up 2.54 per cent.
In commodities, oil prices rose on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.
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