Sensex Ends FY 2019-20 on a Strong Note by Gaining 1,028 Points

The unexpected growth of manufacturing activities in March in China has resulted in the uplifting of market sentiment. This led to the Indian benchmark indices shooting up nearly 4% each. Purchasing Manager’s Index (PMI) of China surged to 52 in March, which had plummeted to 35.7 in February 2020. 

The S&P BSE Sensex eloped 3.62% or 1,028 points. It ended Tuesday at 29,468.49 points. 25 of the 30 stocks constituting the BSE Sensex advanced while the reaming 5 slipped. ITC, an FMCG major, led the gains in the BSE Sensex. It rose as much as 8% followed by RIL, ONGC, and Tata Steel. 

The NSE Nifty too had a good Tuesday as it ended 3.82% or 317 points higher. A sharp fall in the prices of crude oil caused the oil and gas stocks to surge. The S&P BSE Oil and Gas index shot up nearly 9% to touch the 10,020 levels. GAIL, HPCL, and BPCL were trading 8-15% higher. 

Also Read: Sensex Loses Over 1,000 Points While Nifty Falls Below 8,500 Points

Metal and FMCG stocks as well recorded some gains. The S&P BSE FMCG index rallied 6% to trade around the 10,255 levels while the S&P BSE Metal index jumped more than 5% to touch 5,713 points. Individually, Nestle India grew 5% to touch Rs 16,425 a share. It finally ended Tuesday 4% at Rs 16,289 a share, up by 4%. 

The shares of IndusInd bank fell nearly 15% to touch Rs 351.5 a share on the Bombay Stock Exchange (BSE). On the other hand, the shares of Hindustan Unilever (HUL) recorded its 52-week high at Rs 2,311.85 in the intra-day trade. It closed the day at Rs 2,298 a share, which is 5% higher. 

Meanwhile, the Volatility Index India (VIX) dropped down to trade at 64.49 level, which is more than 10% lower. In the broader markets, the NSE Nifty SmallCap Index added 3% to trade at 3,595 points while the NSE Nifty MidCap Index gained more than 2% to touch 11,704 points. 

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