Indian equity, money and commodity markets will remain closed on Friday on account of Good Friday. The markets will reopen on Monday on usual timings. On Thursday both Sensex and Nifty ended the day on a higher note on the back of robust buying in pharma, auto and FMCG stocks on hopes that the coronavirus pandemic was nearing its peak globally.
While the 30-share Sensex ended the day at 31159.62 up by over 1265 points or 4.23% while the broader market Nifty closed at 9111.90 gaining over 363 points or 4.15%. The Sensex gained as much as 13% on a weekly basis.
Rashtriya Chemicals & Fertilizers, Ashoka Buildcon, Motherson Sumi Systems, M&M and FDC Ltd were the top gainers on Nifty while PC Jeweller, Thyrocare Technologies, Hindustan Unilever, Edelweiss Financial Services and Infibeam were the top losers.
Meanwhile on Nifty, M&M, Maruti, Cipla, TITAN and Tata Motors were the top gainers in Thursday’s trade. Hindustan Unilever, Dr Reddy’s, Tech Mahindra, Indusind Bank and Nestle India were the top five losers.
On Thursday, the benchmarks opened higher taking global cues in key equity indices on hopes of the COVID-19 pandemic approaching its peak. Investors globally turned optimistic over prospects of slowing pace of fresh COVID-19 cases amid the tightened lockdowns across the world by governments with announcements of resumption of opeartion in key sectors including automobile.
“Indian equity markets rebounded after taking a pause yesterday, on hopes that the coronavirus pandemic was nearing its peak globally and second stimulus package from government is likely to be announced in coming days. All the sectors ended in green with auto being the largest gainer. Metals, banking and pharma stocks also witnessed healthy buying during the day,” IANS reported quoting Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
On the technical front, Khemka said that hurdle for Nifty is now placed around 9,400, followed by 9,800. On the flipside, immediate support is inching higher to 8,900 and then 8,650-8,550.
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Wall Street gained after the US President Donald Trump tweeted that New York was starting to flatten its curve of the number of coronavirus cases. Both FTSE and DAX grew almost 1% in European markets, although French Stock Market CAC traded lower. Among the Asian bourses Shanghai, Hong Kong, and Seoul ended on a positive note, while Tokyo ended the day in the red.
Inputs from IANS