In the pre-opening session, BSE Sensex was trading 1,000 points higher at 32,380.35, while NSE Nifty was up over 3 per cent at 9,512.40. 

Banking, financial and auto stocks were key contributors to the morning rally. (Photo: Reuters)

Indian share markets jumped sharply on Wednesday after the government announced a stimulus package worth Rs 20 lakh crore to help jumpstart the economy.

In the pre-opening session, BSE Sensex was trading 1,000 points higher at 32,380.35, while NSE Nifty was up over 3 per cent at 9,512.40.

Banking, finance and auto stocks were leading the market rally in morning trade. All Nifty sectoral indexes were in the green with Nifty Bank leading from the front.

Stocks of ICICI Bank, Maruti, Axis Bank, HDFC Bank, IndusInd Bank and Bajaj Finance were some of the top gainers while Nestle, Bharti Airtel, Sun Pharma were trading lower.

Stimulus package

The key reason behind the market rally today can be credited to the announcement about a Rs 20 lakh crore relief package made by Prime Minister Narendra Modi yesterday.

Read | PM Modi speech: Lockdown 4.0 to Rs 20 lakh crore economic package for land, labour and liquidity | Key takeaways

Read | India records 3,604 new coronavirus cases in 24 hours, total count tops 70,000

Watch | From call for self-reliance to Rs 20 lakh crore package, watch PM Modi’s full speech

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