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MARKETS: Sensex gains 484 pts as IT, financials rally; Nifty ends at 9,314

All that happened in the markets today

Markets | Coronavirus | Britannia Industries

SI Reporter  | New Delhi 


Extending its gains, the domestic equity market settled in the positive territory on Thursday amid solid buying in IT and financial stocks.

The S&P BSE Sensex climbed 484 points or 1.54 per cent to end at 31,863. Infosys (up around 5.7 per cent) contributed the most to the index's gains. Other major contributors to the gains were HDFC Bank, TCS, ICICI Bank, and Reliance Industries (RIL). 

On the NSE, the benchmark index Nifty settled at 9,314 levels, up 127 points or 1.38 per cent. India VIX declined around 9 per cent to 39.01 levels. 

Among buzzing stocks, Vodafone Idea surged as much as 14.89 per cent to Rs 4.55 on the BSE after its parent company, Vodafone Plc, announced that it was making an advance payment of $200 million to its India arm. The stock ended at Rs 4.33, up 9.34 per cent. READ MORE  

Shares of Zee Entertainment Enterprises (ZEE) surged 14 per cent to Rs 173 on the National Stock Exchange (NSE) after foreign portfolio investors (FPIs) bought less than 1 per cent stake in the broadcasting & cable TV operators via open market on Wednesday. The stock ended around 4 per cent higher at Rs 157.55 apiece. READ MORE
Alembic Pharmaceuticals surged 10 per cent to Rs 699 on the BSE after the company's consolidated profit before tax (PBT) more than doubled at Rs 298 crore in the January-March quarter (Q4FY20), on the back of healthy revenue. The drug maker had a PBT of Rs 139 crore during the same quarter in previous fiscal. READ MORE

In the broader market, the S&P BSE MidCap index rose nearly a per cent to 11,671 while the S&P BSE SmallCap index gained over 1 per cent to 10,785 levels.

Global Markets

Caution gripped on Thursday, with stocks falling before a key Eurogroup meeting to discuss joint stimulus measures, offsetting optimism from a fresh round of US aid and a recovery in oil prices. European stocks slipped 0.4 per cent and US stock futures were down 0.3 per cent after a strong show on Wednesday.

In Asia, MSCI’s broadest index of Asia Pacific shares outside of Japan bounced from two-week lows to be up 0.6 per cent at 460.43 points. Chinese shares gave up gains with the blue-chip index down 0.1 per cent. Japan’s Nikkei climbed 1.5 per cent.

South Korea’s KOSPI index rose 1.09 per cent while Hong Kong’s Hang Seng index added o.5 per cent.

In commodity markets, oil surged amid signs that producers are cutting production to weather a collapse in demand as the outbreak ravages world economies, while the US state of Oklahoma also moved to help oil firms pump less. Brent crude was up 99 cents, or 15 per cent, at $21.36 a barrel at the time of writing of this report.

US West Texas Intermediate (WTI) futures were up 98 cents, or more than 7 per cent, at $14.76 a barrel. 

(With inputs from Reuters)


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