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BSE Sensex Surges 2.71%; Nifty50 Nears 10,000 Mark

BSE Sensex surged by 879.42 points to close at 33303.52 crossing 33000 mark after rising 1257 points intraday. Nifty, zoomed 245.85 points to settle at 9826.15 nearing 10000 mark. Indian Equity market opened higher today after the Government decided to reopen the economy in different phases. Also, the upliftment of Asian markets provided good support to the domestic market.

All the domestic indices closed in green with equity market gaining 2%. Public sector banks gained over 7% on average today. The announcement by Government to open the economy in phases starting with Unlock 1.0, boosted the market sentiments. Positive cues from Asian markets, weak US Dollar index and rising Foreign investments supported the market.

Top Gainers: S&P BSE Sensex and Nifty50

In the BSE market, Capital India surged by 20%. Further, Sarthak Metals, Kaveri Seed, Chalet Hotels and IDBI Bank gained 20%, 19.99%, 19.96% and 19.95% respectively. On the NSE market, Shoppers Stop topped the market with 19.99%. Also, Man Industries, Sarla Performance Fibers Ltd, Arvind and Aarvee Denim gained over 19.95%, 19.92%, 19.84% and 19.53% respectively.

On BSE Sensex index, Bajaj Finance rose by 10.62%. Other gainers included Titan Company, Tata Steel, SBI, M&M and IndusInd Bank surging by 7.61%, 6.72%, 6.08%, 5.73% and 4.26% respectively. On the Nifty 50 index, Bajaj Finserv topped the list gaining by 8.13%. Also, M&M, JSW Steel, Coal India and HDFC bank increased by 5.67%, 5.29%, 5.13% and 4.75% respectively.

Losers: S&P BSE Sensex and Nifty50

In BSE Market, Raw Edge Industries dropped 15.70%. Further, Orissa Bengal Company, Sun Retail and Sat Industries declined by 15.30%, 9.84% and 9.13% respectively. On Sensex index, Sun Pharma hit the worst losing over 2.17%. Other losers included Nestle, Hero MotoCorp and L&T dipping by 2.14%, 1.44% and 0.45% respectively.

In the NSE market, Kothari Petro slumped the most by 6.63%. Other losers include Aspinwall, Premier Polyfil, Lokesh Machines and AMD Industries dropping 5.78%, 5.53%, 5.43% and 5.04% respectively. On the Nifty 50 index, Dr Reddy Labs dipped the most losing 2.89%. Further Bharti Infratel, UltraTech Cement, Grasim and Cipla lost around 2.48%, 2.28%, 0.97% and 0.87% respectively.

FII and DII

Foreign Institutional Investors bought shares of value INR 7015.34 crores in the Indian financial market. Shares of value INR 5439.88 crores were sold-off during the session. Thus, making a net investment of INR 1575.46 crores in the domestic equity market.

Domestic Institutional Investors took out a total of INR 459.25 crores from the market with negative cues from rising tension between US and China. A total of INR 4890.67 crores was bought during the session. And, INR 5349.92 crores of stock value were sold-off making a negative investment in today’s session.

The rising cases of Coronavirus, riots in USA and brewing word war between US-China led investors’ to be cautious.

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