Sensex surges 830 points, Nifty above 11,000; IT & auto stocks gain
Benchmark indices closed over 2% higher over rise in Asian markets, hoping of US stimulus package. Sensex was up by 835 points at 37,389 while Nifty 50 gained by 245 points at 11,050.
New Delhi: Benchmark indices Sensex and Nifty ended on a high note, snapping the six-day losing session. Yesterday, the 30-scrip index tanked over 1,000 points registering one of worst trading days in recent history.
The indices closed over 2% higher on Friday over rise in Asian markets, hoping of a US stimulus package.
BSE S&P Sensex was up by 835 points at 37,389 while Nifty 50 gained by 245 points at 11,050. All sectoral indices at the National Stock Exchange were in the green with Nifty IT ticking up by 3.4 per cent, auto by 3.3 per cent and FMCG by 2 per cent.
Among stocks, HCL Technologies moved up by 5.3 per cent to Rs 830.10 per share while Tata Consultancy Services advanced by 3.6 per cent to close at Rs 2,417.75.
Bajaj Finserv was up by 6.6 per cent, Cipla by 5.1 per cent, Bharti Airtel by 4.9 per cent, Adani Ports by 4 per cent and Eicher Motors by 3.9 per cent.
Those who made losses include SBI Life, Bharat Petroleum Corporation, and UPL.
Investor sentiment got a boost after reports suggested that Democrats in the US House of Representatives are working on a 2.2 trillion dollar coronavirus stimulus package that could be voted on next week.