Markets shed Covid-19 pessimism with biggest single-day gain since 2009

Sentiment improves as virus spread shows signs of slowing

The Indian markets jumped nearly 9 per cent on Tuesday amid optimism that the spread of coronavirus was slowing in key global hotspots. 

Most global markets rallied sharply for a second day in a row as investor sentiment improved after encouraging signs from a few countries severely hit by Covid-19, and comments from President Donald Trump that the pandemic was beginning to level off in the US. The US markets soared 8 per cent on Monday and futures markets indicated another day of strong gains. The Dow Jones was up about 2.5 per cent as of 11:15 pm IST on Tuesday.