Thursday, April 2, 2020
News

Equity indices edge higher on hope of stimulus package, IT and banking stocks gain

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | March 26, 2020 10:41:35 AM IST
Equity benchmark indices ruled higher during early hours on Thursday following reports that the government may soon announce an economic stimulus package to soften the blow of countrywide lockdown amid spreading coronavirus.

At 10:15 am, the BSE S&P Sensex was up by 1,175 points or 4.12 per cent to 29,711 while the Nifty 50 edged higher by 327 points or 3.93 per cent to 8,645.

All sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT up by 4 per cent, private bank by 3.8 per cent, realty by 3 per cent and pharma by 2.5 per cent.

Among stocks, IndusInd Bank made a dramatic gain of 25 per cent to Rs 376.60 per share while Axis Bank was up by 7.3 per cent. Bajaj Finserv and Bajaj Finance ticked up by 5.3 per cent and 4.7 per cent respectively.

The other prominent winners included Infosys, Tech Mahindra, Bharti Infratel and Titan.

However, IndianOil Corporation lost by 1.9 per cent while ONGC, GAIL, Maruti and ITC traded with a negative bias.

Meanwhile, Asian shares lost momentum as stimulus negotiations dragged on in Washington and investors fretted over a likely spike in US jobless claims.

MSCI's broadest index of Asia Pacific shares outside Japan fluctuated between gains and losses while Japan's Nikkei slumped by 3.2 per cent.

Hong Kong's Hang Seng index was flat but South Korea's Kospi moved up by 0.8 per cent. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Air cargo demand slumps in Feb as COVID-...
Lifeline Udan: Over 37 tns of medical su...
ICF calls for EoI from ventilator makers...
HUL acquires Horlicks as merger with GSK...
Avail Finance launches 'Assist' to help ...
Production growth of India's manufacturi...
More...
 
INDIA WORLD ASIA
India registers 437 new cases in 24 hrs,...
Hyderabad Zoo sees birth of big cats dur...
Twitter exchange in J&K lightens atmosph...
6-day old among 335 COVID-19 cases in Ma...
9 people in Gurugram recovered from COVI...
Four more die due to COVID-19 in Maharas...
More...    
 
 Top Stories
Hrithik Roshan: Trying new things t... 
ICF calls for EoI from ventilator m... 
Tablighis have ubiquitous presence ... 
COVID-19: Govt suggests using homem... 
Scientists discover bacteria in sol... 
COVID-19: India's fielding coach Sr... 
Jazz musician Ellis Marsalis Jr. di... 
People suffering food shortage in P...