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Financials lead in Sensex's 522-pt rally; Nifty ends 153 pts up at 9,979

All that happened in the markets today

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Markets | Coronavirus | Moody's

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

markets
NSE's Nifty ended at 9,979, up 153 points or 1.56 per cent.
Shrugging off Moody's downgrade of India's long-term sovereign rating, the domestic equity market ended with decent gains on Tuesday, though the session remained rangebound. Moreover, strong global cues and reassurance by Prime Minister Narendra Modi, in an address to India Inc at the CII's 125th annual session, that India will return to growth, boosted sentiment further. 

The benchmark S&P BSE Sensex rallied 522 points or 1.57 per cent to 33,825.53 levels, thanks to buying in financial counters such as HDFC, HDFC Bank, ICICI Bank, Bajaj Finance, Axis Bank.

NSE's Nifty ended at 9,979, up 153 points or 1.56 per cent. Volatility index, India VIX, slipped nearly 2.5 per cent to 29.99 levels. 

Sectorally, barring Nifty FMCG index, all the indices on the NSE ended in the green. Nifty Realty index gained the most - up nearly 5 per cent to 194.75 levels while Nifty Media ended at 1,259.40, up 3.28 per cent. Nifty FMCG index, on the other hand, slipped over 0.7 per cent to 29,360 levels. 

In the broader market, the S&P BSE MidCap index ended at 12,303, up over 1 per cent while the S&P BSE SmallCap index climbed 1.83 per cent to 11,428.41 levels.

Global markets

World stocks climbed towards three-month highs on Tuesday as the global recovery effort won out over US-China tensions and the worst civil unrest in the United States in decades.

In Asia, Japan’s Nikkei rose 1.2 per cent to its highest since late February in Asia and in Seoul, Taipei and Hong Kong also gained.

European stocks hit their highest levels since early March, with German stocks outperforming as carmakers rallied on hopes of stimulus and Lufthansa gained after its board approved a state bailout.

In commodities, oil prices rose on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week.

Gold prices, on the other hand, held on to last session’s more than one-week high. 

(With inputs from Reuters)

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