Sensex Zooms 879 Points; Consumer Durables And Metal Stocks Rally

Extending gains to the fourth consecutive day, Indian share markets witnessed buying interest throughout the day and ended on a strong note.

Benchmark indices surged over 3% today as investors cheered the opening of the country's economy after months-long lockdown.

As part of its exit strategy, the government has outlined a plan to reopen nearly all activities outside of containment zones starting today.

At the closing bell, the BSE Sensex stood higher by 879 points (up 2.7%) and the NSE Nifty closed higher by 246 points (up 2.6%).

The SGX Nifty was trading at 9,772, up by 289 points, at the time of writing.

The BSE Mid Cap index ended up by 2.7%, while the BSE Small Cap index ended the day up by 3%.

On the sectoral front, gains were largely seen in the consumer durables sector, metal sector and finance sector.

Asian stock markets ended on a positive note today as US President Donald Trump's threats against China over new security laws for Hong Kong were less threatening than feared.

The rally was led by short covering as some investors had worried Trump could ditch his trade deal with China or call an immediate end to privileges to Hong Kong after the Chinese parliament passed new security legislation for the semi-autonomous city last week.

The Nikkei rose to a three-month high and gained 0.8% to 22,062.39, its highest close since February 26.

Meanwhile, the Hang Seng and the Shanghai Composite stood higher by 3.4% and 2.2%, respectively.

European shares edged closer to three-month highs today on hopes of a post-coronavirus global recovery.

The rupee is currently trading at 75.80 against the US$.

Gold prices are trading up by 0.2% at Rs 46,765 per 10 grams.

Moving on, market participants were tracking IDBI Bank share price as the lender reported profit in Q4FY20 after reporting losses for 13 straight quarters.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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