Markets rebound as Sensex jumps 1,265 points, Nifty above 9,100

Indian markets on Thursday rebounded strongly as investors remain hopeful of another government stimulus to aid small industries to tackle Covid-19 pandemic.

BSE Sensex ended the day’s trading session higher by 1,265 points or over 4 per cent at 31,159.62. NSE Nifty was up 354 points or 4 per cent at 9,102.

Some of the major gainers on Nifty were Mahindra and Mahindra, Maruti, Cipla, Titan and Tata Motors, while HUL, Tech Mahindra, Dr Reddy’s Lab, Induslnd Bank were at the bottom.

All sectoral Nifty indexes were also trading in green.

The confidence seen among market investors is likely a result of reports which indicated that the government will soon announce a second stimulus package over Rs 1 lakh crore for helping small scale industries tackle the economic crisis due to the novel coronavirus pandemic.

An uptick on global stock markets also helped the domestic rally today. Global investors are hopeful the affected countries like US, Italy and Spain will soon reach their Covid-19 peak.

Despite the rally, markets have been witnessing high volatility since the lockdown started and investors remain anxious. Most of them are now awaiting the second relief package by the government.

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