Sensex soars over 900 points, Nifty regains 9,000-mark

According to the Union Health Ministry, the death toll due to the novel coronavirus in India rose to 166 and the number of cases surged to 5,734.

Sensex soars over 900 points, Nifty regains 9,000-mark

Sensex soars over 900 points, Nifty regains 9,000-mark

The benchmark Sensex on Thursday gained over 900 points, while Nifty also added more than 250 points to reach 9,000-mark led by a rally in bank and pharma stocks. In the opening session, the BSE barometer surged 925.67 points or 3.10 per cent higher at 30,819.63. Similarly, the NSE Nifty was quoting 270.05 points, or 3.09 per cent, up at 9,018.80.

Major gainers in the Sensex pack included HDFC Bank rising by up to  5 per cent, followed by Maruti, Bharti Airtel, Bajaj Finance, Tata Steel, Hero MotoCorp and ICICI Bank. On the flip side, HUL was the sole laggard.

On Wednesday, the 30-share index closed 173.25 points or 0.58 per cent lower at 29,893.96, and the Nifty settled 43.45 points, or 0.49 per cent, down at 8,748.75. Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought equity shares worth Rs 1,943.41 crore on Wednesday, provisional data showed.

According to experts, hopes of another financial stimulus hope before the end of the lockdown period buoyed investor sentiment in the early session.

Further, slowing pace of fresh COVID-19 cases has also lent some momentum to global markets, they told PTI. Asian bourses in Hong Kong, Shanghai, and Seoul were trading on a positive note, while those in Tokyo were in the red.

Benchmark exchanges on Wall Street ended significantly higher in overnight trade. Brent crude futures rose 1.55 per cent to USD 33.34 per barrel.

According to the Union Health Ministry, the death toll due to the novel coronavirus in India rose to 166 and the number of cases surged to 5,734. Globally, the  tally of the infections crossed 14.8 lakh, with over 88,000 fatalities.