Sensex Jumps by 622 Points Nifty Surges Above 9000

Sensex rose by 622.44 points to close at 30818.61, while Nifty was up by 187.45 points to settle at 9066.55. Today’s market session saw a great hike registering an over 2% gain with sharp buying in the afternoon session.

The banking stocks emerged positive today after a continuous decline for the past week. Investors’ sentiments uplifted after Finance Minister stated full support to the industry and introduction of stimulus if needed. Analysts forecast the continuation of volatility in the market due to a rise in Coronavirus cases in India. Also, close monitoring of Government’s economic policies, US Dollar index and a rally of crude prices may further impact the equity market.

Top Gainers- Sensex and Nifty

Dr Reddy’s surged today by 5.93%, followed by HDFC, M&M, BPCL increasing by 5.89%, 5.72% and 5.59% respectively. Other gainers included were UPL, Shree Cement, L&T and Eicher Motors gaining more than 5% in today’s session.

Pharma sector surged by 4% followed by Auto, Bank and Energy sectors rising by more than 1%.

Losers- Sensex and Nifty

Infratel hit the worst today dipping by 6.97%. IndusInd Bank, Hero MotoCorp and Vedanta Ltd dropped by 2.64%, 2.34% and 1.61% respectively. Other stocks that witnessed a fall today include Bharti Airtel, Infosys, Asian Paints and Coal India declining by less than 1%.

Sensex and Nifty opened slow and then experienced massive buying in indices closing with high profits.


Foreign Institutional Investors bought stocks of value INR 4522.3 crores and sold shares of value INR 5988.82 crores in today’s Indian market. Foreign investors took out an investment of INR 1466.52 crores due to COVID crisis.

Domestic Institutional Investors induced a net value of 2373.19 crores in the financial market. Stocks of value 4855.06 crores were bought, and 2481.87 crores were sold during today’s session.

Foreign investors took out USD 6.4 billion in the 4th quarter of 2019-2020. In comparison, a total purchase of USD 1.71 billion and USD 265 million was witnessed in January and February month. But, March ended with a sell-off of around USD 8.4 billion. The uncertain conditions prevailing in the market forced foreign investors to pull out and head for safe-haven. The rising trade tension between the US and China further contributed to the sell-out of stocks globally.

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