Indices soar 4% on stimulus hopes, end short week with 13% gain

Domestic stimulus hopes, oil talks lift sentiment

The benchmark indices posted strong gains on Thursday, jumping 4 per cent and ending the truncated week up 13 per cent. Reports of a second stimulus package by the government, talks between major oil producers to cut output, and optimism of lower spread in Covid-19 cases boosted investor sentiment.

Overseas investors were strong buyers for the third session in a row. They bought shares worth Rs 1,738 crore, taking their three-session buying tally past Rs 4,200 crore. The Sensex closed at 31,160, up 1,266 points or 4.2 per cent, while the Nifty rallied 363 points or 4.15 per cent to end