Stock Market: On account of strong global cues ater the Wall Street rally yesterday, the Indian indices responded positively logging around 9 per cent in the intraday trade session. The BSe Sensex skyrocketed 2,476 points and closed at 30,067 levels while the NSE Nifty shot up 708 points and closed at 8,792 levels. Bank Nifty regained 19K by closing at 19,062 levels — 1,813 points above from the previous closing.
Speaking on the current stock market Prakash Pandey, MD & CEO at Plutus Advisors said, “The way world indices have responded to the Coronavirus, Indian indices have been worst hit as it has gone down around 35 per cent. So, in the coming few trade sessions, we are expecting 10-12 per cent rise at Nifty.” However, he maintained that the rise won’t be straight and advised traders to book profit on every 7-8 per cent rise.
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Shares of SBI, Reliance Industries, ICICI Bank, IndusInd Bank, Bajaj Finance, Cipla, Tata Motors, HDFC Bank, ITC and Bandhan Bank were among the most trending stocks throughout the intraday trade session while share of Hindustan Unilever Limited or HUL, Housing Development Finance, Axis Bank, IndusInd Bank and Sun Pharma were among the most active stocks in the intraday trade session.