Sensex Zooms 2,476 Points; Banking, Energy and Automobile Stocks Rally

Tue, 7 Apr Closing

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Indian share markets continued to trade in the green during closing hours and ended their day on a strong note.

The BSE Sensex and NSE Nifty rose over 8.5% today, posting their biggest single-day gain since May 18, 2009, as indications of an ease in lockdown restrictions and a rally in global equity markets pumped investors.

Reportedly, authorities are studying a proposal to partially lift restrictions in low-risk states and districts.

Sentiment also got a boost after reports suggested that India may attract US$ 1.3 billion in passive flows as the country has moved into a new regime in which the FPI limit has been increased to the sector foreign limit.

At the closing bell, the BSE Sensex stood higher by 2,476 points (up 9%) and the NSE Nifty closed higher by 708 points (up 8.8%).

The BSE Mid Cap index ended up by 5.4%, while the BSE Small Cap index ended the day up by 4.1%.

On the sectoral front, gains were largely seen in the banking sector, energy sector and automobile sector.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng was up 2.1% and the Shanghai Composite stood higher by 2%.

European shares, too, rallied for the second straight day. Equity investors in Europe were encouraged by the slowing death toll from the virus across major European nations, including France and Italy.

The rupee was trading at 75.53 to the US$ at the time of writing.

Speaking of Indian share markets, in the article titled How Corona Crash Hit Indian Financial Markets in March 2020 - 6 Charts, we dive deeper and look at how Indian financial markets performed in March 2020.

Also, speaking of the current stock market scenario, stock markets around the world witnessed one of the most painful correction phases in the month of March 2020.

Indian stock markets too mirrored the trend. In the month of March 2020, the Sensex fell as much as 23%.

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In news from the commodities space, gold prices in India surged as much as Rs 2,000 per 10 gram today, hitting a new high of Rs 45,724 per 10 gram in futures market.

Tracking gold, silver prices also leaped higher amid investor rush to safe haven assets as the coronavirus cases rose over 4,000 in India, making equities less lucrative.

In global markets, spot gold rates were down 0.2% at US$ 1,657.67 per ounce after rising to a four-week high earlier in the session. Prices had jumped nearly 3% in the previous session.

Note that gold prices have been supported by strong inflows into ETFs. The holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.54% to 984.26 tonnes on Monday.

Meanwhile, India's gold imports plunged more than 73% year-on-year in March to their lowest in 6-1/2 years as record domestic prices and a lockdown to curb the outbreak squeezed retail demand.

The quantitative easing by central banks and stimulus measures by governments have also helped gold price.

The Federal Reserve on Monday announced a program to boost lending to small-businesses, while Japan pledged to roll out an unprecedented economic stimulus package.

Speaking of gold, you will be surprised to know that the safe haven has outperformed equities over a 15-year period.

Have a look at the chart below:

An equal amount of Rs 100 invested in both gold and Sensex in 2004 would have generated higher returns in gold by a wide margin.

Your total investment in gold and Sensex would be valued at Rs 687 and Rs 410, respectively.

So, investors in gold are happier than investors in Sensex or equities at this moment.

Moving on to news from the FMCG sector, shares of Britannia Industries surged over 10% today after the company said it has partnered with on-demand e-commerce platform Dunzo for home delivery of all its products.

Customers can avail Britannia products through the Dunzo app in under an hour of ordering from the Britannia Essentials store.

Britannia's essentials products such as biscuits, cakes, rusk, croissants, milkshakes, wafers, ghee and dairy whitener will be sourced by Dunzo from its distribution centers.

Britannia share price ended the day up by 10.2%.

In other news, Hindustan Unilever (HUL) share price was also in focus today. Stock of the company hit a new high of Rs 2,463 today.

Last week, HUL had announced the completion of GSK Consumer merger process, post securing necessary regulatory approvals.

HUL has fixed April 17, 2020 as the record date for determining the shareholders of GSK Consumer to receive the shares of the company.

The merger will be on a basis of an exchange ratio of 4.39 HUL shares for each GSK Consumer share.

HUL's shares will be allotted to all GSK Consumer shareholders from end of April to early May.

HUL also announced that it has acquired the Horlicks brand rights for the India market from Horlicks (a GSK-owned entity) for Rs 30.5 billion.

In the past two weeks, shares of HUL have rallied about 24% after the company on March 23, announced the acquisition of female intimate hygiene wash brand VWash from Glenmark Pharma.

HUL share price ended the day up by 13.5%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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