Upbeat China factories provide hope to D-Street, Sensex climbs 500 points

Indian equity markets on Tuesday traded higher in morning trade in line with global markets, which edged higher on the back of improving Chinese manufacturing numbers.

At around 9:20 am, BSE Sensex jumped almost 600 points while NSE Nifty was trading over 8,450 points. While domestic markets are in the green, volatility continues to remain high.

Most sectoral indexes were trading in positive territory as investors draw optimism from global market performance.

Many global stock markets recorded gains as China’s official manufacturing purchasing managers’ index (PMI) bounced from a record-low of 35.7 in February to 52.0 in March.

However, a recovery in India seems far away at the moment with number of daily cases rising faster than before. India has now recorded over 1,300 confirmed Covid-19 cases and 40 deaths.

The government, however, said it had no plans to extend the 21-day lockdown that began last week. It also issued a notification to debunk such rumours doing rounds on social media.

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