Sensex Rises Over 150 Points, Nifty Near 11,950 Amid Volatile Trade
Stock Market Updates: Britannia, Bajaj Finance, Hero MotoCorp were the top Nifty losers
Here are 10 things to know about the markets today:
Domestic share markets registered mild gains in a highly volatile session on Wednesday, amid renewed optimism in broader Asian markets on hopes for more stimulus in the world's largest economy. The S&P BSE Sensex index traded in a wide range of more than 800 points, touching 40,976.02 and 40,150.48 at the day's strongest and weakest levels respectively. The broader NSE Nifty 50 benchmark was also rangebound, between 11,775.75 and 12,018.65, compared to its previous close of 11,896.80. Gains in financial and metal shares countered losses in consumer goods and select automobile stocks.
At 3:13 pm, the Sensex traded at 40,741.01, up 196.64 points - or 0.48 per cent - from its previous close, and the Nifty was up 50.70 points - or 0.43 per cent - at 11,947.50. (Track Sensex, Nifty Here)
The National Stock Exchange's India VIX index - which measures the expectation of volatility in the near term - spiked as much as 3.77 per cent during the session.
Overall market breadth favoured losses, as 1,138 stocks on the BSE rose against 1,450 that fell. Shares in the mid- and small-cap segments also came under selling pressure, with the Nifty Midcap 100 and Smallcap 100 indices 0.50 per cent and nearly 1 per cent respectively.
Reliance Industries shares rose as much as 1.65 per cent to Rs 2,191 apiece on the BSE, a day after the conglomerate announced it had expanded efforts with Qualcomm to develop 5G solutions in the country.
The White House and Democrats moved closer to an agreement on a new COVID-19 relief package as US President Donald Trump said he was willing to accept a large aid bill despite opposition from his own party.
Equities in other Asian markets moved higher after US President Donald Trump said he was willing to accept a large aid bill despite opposition from his own party, raising expectations that agreement on a relief package could be reached before the presidential election.
European share markets started the day on a weak note, with the United Kingdom's FTSE 100 index last seen trading 0.80 per cent lower in early trade. While the Eurostoxx 50 index was down 0.29 per cent, France's CAC 40 was down 0.64 per cent and Germany's DAX 30 0.72 per cent.