Sensex zooms over 1,265 pts, Nifty reclaims 9,100-level

Mumbai, April 9

Equity benchmark Sensex rallied over 1,265 points on Thursday, led by robust buying in auto, financial and IT stocks amid hopes of a second stimulus package from the government to mitigate the blow of the Covid-19 lockdown.

After hitting a high of 31,225.20 during the day, the 30-share BSE barometer ended 1,265.66 points or 4.23% higher at 31,159.62. Similarly, the NSE Nifty soared 363.15 points, or 4.15%, to 9,111.90.

Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16%, followed by Maruti, Titan, Bajaj Finance, HDFC, Bajaj Auto and Hero MotoCorp. On the other hand, HUL, Tech Mahindra, IndusInd Bank and Nestle were the laggards.

“Indian markets started trading on a positive note taking upbeat cues from its Asian peers in the morning session as policymakers discussed the process of reopening the global economy as data showed a slowing spread of Covid-19,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

During the afternoon, market further strengthened on back of hopes of second stimulus estimated at around Rs 1 lakh crore and focus on helping small and medium businesses, which led to both broad-based buying and also triggered some short covering, he added. — PTI