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Market Wrap, March 26: Here's all that happened in the markets today

IndusInd Bank soared an impressive 45 per cent to Rs 437 on the BSE. It was its sharpest-one day gain ever.

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MARKET WRAP

BS Web Team  |  New Delhi 

Stock market rallied for the third consecutive day on Thursday as the constant efforts by the government to tackle the economic fallout and business disruption due to Covid-19 lockdown kept the market participants buoyant. The S&P BSE Sensex ended 1,411 points or around 5 per cent higher at 29,947 levels while the NSE's Nifty50 ended March series at 8,641-mark, up 324 points or around 4 per cent.

Among individual stocks, IndusInd Bank soared an impressive 45 per cent to Rs 437 on the BSE. It was its sharpest-one day gain ever.

Other Sensex stocks that gained big today were Bharti Airtel (up 11 per cent), Laresen & Toubro (Up around 10 per cent), and Bajaj Finance (up 8 per cent).

In the broader market, the S&P BSE MidCap index added 3.5 per cent to 10,568 levels while the S&P BSE SmallCap index ended at 9,470, up 341 points or 3.73 per cent.

Sectorally, private bank stocks advanced the most on the NSE with the Nifty Private Bank index jumping over 8 per cent to 10,584 levels, followed by Nifty Realty.

Global Markets

World share fell on Thursday as nerves over jobs data likely to lay bare the economic carnage from the coronavirus pandemic outweighed a $2 trillion US stimulus package. Europe’s broad Euro STOXX 600 fell 1.6 per cent, with bourses in Frankfurt, London and Paris all down around 2 per cent as a two-day rally faltered.

Asian stocks witnessed a mixed session, where MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent but regional performances varied. The Nikkei snapped three days of gains with a 4 per cent drop, while Australia’s benchmark rose for a third day - its longest winning streak in six weeks.

In commodities, oil prices slipped following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns.

MONTHLY STAR

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First Published: Thu, March 26 2020. 17:09 IST
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