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NEW DELHI: Wednesday’s equity indices ended green with benchmark BSE sensex rising more than 700 points, led by gains in bank stocks, consumer goods and automobiles.
The 30-share BSE index closed 743 points or 2.42 percent higher at 31,380; while the broader NSE Nifty set 206 points or 2.29 percent above at 9,187.
Reliance Industries was the top winner in the sensex package, increasing as much as 10.30 percent after Facebook announced a $ 5.7 billion (Rs 43.574 crore) investment in Jio platforms. The deal makes Facebook Jio’s largest minority shareholder.
Asian Paints, IndusInd Bank, Nestle India, Maruti, the hero MotoCorp and Hindustan Unilever were the other winners with their shares rising as much as 5.30 percent.
On the NSE, with the exception of Nifty Realty, all the other sub-indices closed higher led by Nifty Media, FMCG, Auto and Bank with their stocks up 7.21 percent.
According to merchants, the domestic market was boosted by strong purchases at the RIL counter after the Facebook deal.
However, broader market sentiment remained weak as concerns about the coronavirus pandemic weighed on the spirits of global investors, they said.
Meanwhile, the rupee rebounded from record lows to settle higher in 15 country at 76.68 (tentative) against the US dollar after gains in domestic stocks and some weakness in the dollar against global currencies.
Brent crude also fell 8 percent to $ 17.78 a barrel, while oil for the Indian basket also fell 0.68 percent to $ 20.42 a barrel, supporting the local currency.
“Current crude oil prices are an effect of fear of destruction of demand due to the virus, the main problem is the duration of this pandemic, its impact on economic growth and how macros from different economies will be affected along the way ” Deepak Jasani, head of research at HDFC Securities, told Reuters news agency.
In addition, foreign portfolio investors were net sellers on the capital market on Tuesday, as they downloaded capital shares worth Rs 2,095.23 million, according to provisional exchange data.
(With contributions from the agency)
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The 30-share BSE index closed 743 points or 2.42 percent higher at 31,380; while the broader NSE Nifty set 206 points or 2.29 percent above at 9,187.
Reliance Industries was the top winner in the sensex package, increasing as much as 10.30 percent after Facebook announced a $ 5.7 billion (Rs 43.574 crore) investment in Jio platforms. The deal makes Facebook Jio’s largest minority shareholder.
Asian Paints, IndusInd Bank, Nestle India, Maruti, the hero MotoCorp and Hindustan Unilever were the other winners with their shares rising as much as 5.30 percent.
On the NSE, with the exception of Nifty Realty, all the other sub-indices closed higher led by Nifty Media, FMCG, Auto and Bank with their stocks up 7.21 percent.
According to merchants, the domestic market was boosted by strong purchases at the RIL counter after the Facebook deal.
However, broader market sentiment remained weak as concerns about the coronavirus pandemic weighed on the spirits of global investors, they said.
Meanwhile, the rupee rebounded from record lows to settle higher in 15 country at 76.68 (tentative) against the US dollar after gains in domestic stocks and some weakness in the dollar against global currencies.
Brent crude also fell 8 percent to $ 17.78 a barrel, while oil for the Indian basket also fell 0.68 percent to $ 20.42 a barrel, supporting the local currency.
“Current crude oil prices are an effect of fear of destruction of demand due to the virus, the main problem is the duration of this pandemic, its impact on economic growth and how macros from different economies will be affected along the way ” Deepak Jasani, head of research at HDFC Securities, told Reuters news agency.
In addition, foreign portfolio investors were net sellers on the capital market on Tuesday, as they downloaded capital shares worth Rs 2,095.23 million, according to provisional exchange data.
(With contributions from the agency)
