Sensex increases by more than 250 points, reaches 12,850 points thanks to generalized gains

0
1

HDFC, HDFC Bank and Bajaj Finance were the main contributors to the gain of Sensex

Domestic stock markets started Friday’s session on a positive note, a day after benchmarks broke a winning streak that lasted four straight days. The S&P BSE Sensex index jumped 289.44 points – or 0.66% – to reach 43,889.40 at the highest level recorded in early trades, after starting the day up 132.18 points (0, 30%) at 43,732.14. as high as 12,855.20, up 83.5 points – or 0.65 percent – from its previous close.

At 9:19 a.m., the Sensex traded 231.99 points – or 0.53% – higher to 43,831.95 while the Nifty was up 38.50 points – or 0.30% – to 12,810.20. (Follow Sensex, Nifty here)

ALSO READ  Stock market updates: Sensex drops over 350 points, shrewd below 11,650; Larsen and Toubro drops

Tata Steel, Bajaj Finserv, Hindalco, Bajaj Finance and NTPC, trading between 2.17 percent and 2.82 percent higher, were the top percentage winners in the Nifty basket of 50 stocks.

In contrast, UPL, Adani Ports, SBI Life and HUL – down 0.36 to 0.91 percent each – were the most affected among eight laggards in the index.

HDFC, HDFC Bank and Bajaj Finance were the main contributors to the gain of Sensex.

Globally, stock markets were hit by a wave of uncertainty on Friday after US Treasury Secretary Steven Mnuchin called for an end to relief from the coronavirus pandemic for struggling companies, sparking a rare clash between the central bank and the Treasury.

ALSO READ  Sensex, Nifty End 3 winning days

In Asia, the largest MSCI index of Asia-Pacific stocks, excluding Japan, posted a gain of 0.20 percent. Japan’s Nikkei 225 benchmark fell 0.50%. South Korea’s KOSPI index was stable, Australian stocks were slightly positive, and Chinese stocks were little changed.

Newsbeep

E-Mini S&P 500 futures slipped 0.70%, canceling out a firmer advance from a strong Wall Street session overnight.

In a letter to U.S. Federal Reserve Chairman Jerome Powell, Mnuchin said the $ 455 billion allocated to the treasury under the CARES Act should instead be available for Congress to reallocate.

Although the programs were not widely used, U.S. central bank officials felt their presence reassured financial markets and investors that credit would remain available to help businesses, local branches and even financial institutions. non-profit organizations during the pandemic crisis.

ALSO READ  Live Market Updates: Sensex Rises Over 300 Points From Daily Low As Markets Recoup Early Losses

Mr Mnuchin’s move added to market concern over broader economic growth, as data shows the rapid rapid recovery after a historic fall in the US economy is fading, with more than 10 million people who had a job in January still without work.

Investor sentiment has also been affected by data showing COVID-19 hospitalizations across the United States have jumped nearly 50% in the past two weeks, threatening the recovery of the world’s largest economy. as cities and states began to impose lockdowns.

On Thursday, the Sensex finished 1.31% lower at 43,599.96 and the larger Nifty 50 down 1.29% to 12,771.70, both breaking a winning four-day run.

.