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Sensex Rallies 1,300 Points; Banking and Finance Stocks Advance
Thu, 26 Mar 10:30 am

Share markets in India have extended early gains and are presently trading over 4% higher.

Investors were encouraged by reports that the US Senate has passed a US$ 2 trillion coronavirus relief package, while a separate report said the Indian government was likely to agree an economic stimulus package of more than Rs 1.5 trillion to fight the downturn caused by the coronavirus outbreak.

Asian stock markets are trading on a mixed note today, with Japan's Nikkei 225 index slumping 3.8%, while Kospi index in Korea gaining 0.9%.

The BSE Sensex is presently trading up by 1,339 points, up 4.5%, while the NSE Nifty is trading up by 363 points.

Shares of IndusInd Bank surged over 25% while Axis Bank, Bajaj Finance and Bajaj Auto gained in the range of 8-10%.

On the sectoral front, gains are largely seen in the banking sector and finance sector.

Note that, since the coronavirus outbreak, all BSE indices and NSE indices are down in the range of 25-35%.

In the article titled Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know, we dive deeper and look at how the impact has been on individual sectors...

More details to follow in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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