Left Menu
Development News Edition

Sensex surges over 1,600 pts; Nifty reclaims 8,200 level

PTI | Mumbai | Updated: 25-03-2020 13:44 IST | Created: 25-03-2020 13:44 IST
Sensex surges over 1,600 pts; Nifty reclaims 8,200 level

Equity benchmark Sensex rallied over 1,600 points in afternoon session on Wednesday led by gains in index heavyweights Reliance Industries, HDFC twins, ICICI Bank and Kotak Bank as government took drastic measures to combat Covid-19 outbreak. Asian peers were also trading higher as authorities world over stepped up efforts to fight the pandemic. After rallying 1,657 points, the BSE barometer was trading 1,573.02 points or 5.90 per cent higher at 28,247.05.

Similarly, the NSE Nifty was trading 444.30 points, or 5.70 per cent, up at 8,245.35. Axis Bank was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by Reliance Industries, Kotak Bank, ICICI Bank, Maruti, UltraTech Cement, HDFC twins and Bharti Airtel. On the other hand, ITC, ONGC and L&T were the laggards.

According to traders, in a highly volatile market, investors are weighing the economic impact of the 21-day lockdown announced last night. In an unprecedented drastic measure to curb the spread of coronavirus, Modi said the lockdown will be in force from Tuesday midnight, as he announced a central allocation of Rs 15,000 crore to strengthen the health infrastructure to tackle the disease. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, enforcement of the 21-day lockdown of the nation will be a major challenge. Ensuring supplies to all households is not going to be easy, but has to be done. The temporary shock to the economy will be huge, he said. Market is now awaiting a stimulus package for the financial task force, headed by Finance Minister Nirmala Sitharaman, traders said.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 8 per cent. Stocks on Wall Street rallied up to 11 per cent in overnight trade.

Global oil benchmark, Brent crude futures rose 1.62 per cent to USD 27.59 per barrel. As per to the latest Union Health ministry update the number of coronavirus cases in India rose to 562, while the death toll due to this viral infection was revised down to nine from 10 after the second death in Delhi turned out to be negative.

The number of global Covid-19 infections has shot past 4,20,000. Worldwide fatalities have topped 18,000..



Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...


Latest News

Olleh announces he is taking a break for summer

Just days after Dignitas announced it cut ties with League of Legends academy player Kim Olleh Joo-Sung, the 25-year-old South Korean support player announced he is taking a break from esports. On an AMA Ask Me Anything thread on Reddit on ...

New $27million project backed by Govt to boost horticulture production

The Government is backing a new 27 million project aimed at boosting sustainable horticulture production and New Zealands COVID-19 recovery efforts, says Agriculture Minister Damien OConnor.Our horticulture sector has long been one of New Z...

Applications open for forestry scholarships to support Māori

Applications have opened for 2021 Ng Karahipi Uru Rkau Forestry Scholarships, which will support more Mori and women to pursue careers in forestry science, says Forestry Minister Shane Jones.Im delighted Te Uru Rkau is offering Ng Karahipi...

Quincy Crew joins CR4ZY in ESL One Birmingham - NA/SA upper bracket

A day after taking its first loss of the tournament, Quincy Crew rebounded Sunday with a win on the final day of group play to book a spot in the upper bracket at the ESL One Birmingham 2020 -- Online North South America event. Despite los...

Give Feedback