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Sensex Rallies 2,000 Points; Banking and Healthcare Stocks Advance
Tue, 7 Apr 01:30 pm

Share markets in India have extended early gains and are presently trading over 7% higher.

Benchmarks indices are trading on a bullish note, backed by positive global cues as investors worldwide banked upon hopes of slowing coronavirus deaths.

Italy, Spain and US witnessed slowing of coronavirus cases today.

Global stock markets rallied with each of the major US indices rallying at least 7%, after a fall in the daily death toll in New York, the country's biggest coronavirus hot spot. Equity investors in Europe also were encouraged by the slowing death toll from the virus across major European nations, including France and Italy.

The BSE Sensex is presently trading up by 2,019 points, up 7.3%, while the NSE Nifty is trading up by 575 points.

Shares of IndusInd Bank and Axis Bank surged over 16% while ICICI Bank, HUL and M&M gained in the range of 10-12%.

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