The government’s relentless efforts in fighting coronavirus and curbing its spread have resulted in the stock markets staying afloat. The BSE Sensex and NSE Nifty have rallied to keep the market participants interested. The stock markets have had a good week so far as they now have rallied for three days on the trot.
The BSE Sensex closed Thursday at 1,411 points, which is 5% higher. It ended the day at 20,047 points. On the other hand, the NSE Nifty ended the day at 8,641 points. It gained nearly 4% to close 324 points.
IndusInd Bank gained a massive 45% to touch Rs 436.95 per share on the Bombay Stock Exchange (BSE). Apart from that, Bajaj Finance gained 8%, Larsen & Toubro surged 10% while telecom giant Bharti Airtel grew a whopping 11%.
Coming to broader markets, the S&P BSE SmallCap index surged 3.73% to close the day at 9,470 points, which is 341 points higher. The S7P BSE MidCap index shot up to touch 10,568 points, which is 3.5% higher.
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The stocks of private sector banks surged the most on the Nifty Stock Exchange (NSE). This caused the Nifty Bank Index to jump over 8% to touch 10,584 points. The Nifty Realty index was the next performer.
The global markets had a poor Thursday. The numbers and news on the jobs data will most probably outdo the US stimulus package of worth USD 2 trillion announced to tackle the effects caused by the coronavirus pandemic. The broad Euro STOXX 600 collapsed 1.6% while the stock exchanges in Paris, London, and Frankfurt were all down nearly 2%.
The Asian stocks had a decent session. The MSCI’s broadest index of Asia-Pacific shares outside Japan shot up 0.7% while its regional performances differed. The Japanese Nikkei snapped its three-day gaining streak by dropping 4%.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
