Sensex Closes 1,325 Points Higher After Hitting Lower Circuit

Sensex Closes 1,325 Points Higher After Hitting Lower Circuit

Sensex Closes 1,325 Points Higher After Hitting Lower Circuit
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Sensex Closes 1,325 Points Higher After Hitting Lower Circuit

The S&P BSE Sensex and NSE Nifty 50 indexes recovered sharply in afternoon trading on Friday after tumbling earlier in the session. The indexes plunged more than 10 per cent each at opening, triggering a "circuit breaker" for the first time since 2008 as panic over the coronavirus pandemic gripped global markets. The indexes swung wildly after trading resumed at 10:20 am following a 45 minute halt. The Sensex rallied as much as 5,380 points or 18.3 per cent and Nifty surged a whopping 18.75 per cent or 1,604 points from the day's lowest level.

The Sensex ended 1,325 points or 4 per cent higher at 34,103 and NSE Nifty 50 index jumped 3.8 per cent or 365 points to close at 9,955. The broader markets also ended in the green; the BSE Midcap index gained 2 per cent to 12,639 and the smallcap index added 1.2 per cent to 11,761.

"Global stocks have recovered, this is helping our markets. The 45-minute breather gave people time to think and value buying emerged," Siddhartha Khemka, head of retail research at Motilal Oswal Securities told news agency Reuters.