Markets

Sensex rallies 1,028 points; energy, FMCG stocks soar

A stranded migrant worker sleeps on a push-cart under a flyover next to the railway tracks near the Lokmanya Tilak Terminus, during the complete lockdown imposed to contain the coronavirus pandemic, in Mumbai, on March 31, 2020.

A stranded migrant worker sleeps on a push-cart under a flyover next to the railway tracks near the Lokmanya Tilak Terminus, during the complete lockdown imposed to contain the coronavirus pandemic, in Mumbai, on March 31, 2020.   | Photo Credit: PTI

NSE Nifty rose 316.65 points.

Equity benchmark Sensex surged over 1,028 points on the last day of the 2019-20 fiscal on Tuesday, led by gains in energy, financial and FMCG stocks amid recovery in global peers even as the number of COVID-19 cases continued to mount.

The 30-share BSE barometer settled 1,028.17 points or 3.62% higher at 29,468.49.

Similarly, the NSE Nifty rose 316.65 points, or 3.82%, to close at 8,597.75.

ITC was the top gainer in the Sensex pack, rallying over 7%, followed by Reliance Industries, ONGC, Tata Steel, Tech Mahindra, Sun Pharma and SBI.

On the other hand, IndusInd Bank plunged nearly 15%. Maruti, Bajaj Finance and Titan were the other laggards.

According to traders, domestic investors turned positive amid rebound in global peers as most Asian benchmarks ended higher on recovery in China’s manufacturing during March as authorities relaxed anti-disease controls and allowed factories to reopen.

Bourses in Shanghai, Hong Kong and Seoul ended up to 2% higher, while Tokyo closed in the red.

Stocks in Europe were also trading on a positive note in early deals.

International oil benchmark Brent crude rose 3.60% to USD 27.37 per barrel in futures trade.

On the currency front, the rupee appreciated marginally to 75.54 against the US dollar in intra-day trade.

The number of Covid-19 cases in India surged past 1,200, according to the health ministry. While there are more than 1,100 active cases, nearly 100 people have recovered.

Deaths around the world linked to the pandemic have crossed 37,000.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | May 27, 2020 12:02:54 AM | https://www.thehindu.com/business/markets/sensex-rallies-1028-points-energy-fmcg-stocks-soar/article31217658.ece

Next Story