NEW DELHI: Equity indices surged on Thursday with the benchmark BSE sensex rising over points amid hopes that the center may announce more measures to boost the economy shaken by coronavirus. Sensex jumped 01575879 points or 2. (per cent to) , 749; while the broader NSE Nifty moved (points or 2.) (per cent up to 8, 01575879 .
Top gainers in the BSE pack included HDFC, ICICI Bank, ONGC, Tech Mahindra, Axis Bank and Hero MotorCorp with their stocks rising as much as 3. 68 per cent. On NSE, all the sub-indices were trading in green with Nifty Pharma and Financial Services up as much as 4. per cent.
The government is likely to unveil a second stimulus package in coming days to focus on help for small and medium businesses weathering the coronavirus outbreak.
“The second package could be focused largely on MSMEs,” a senior government official, with direct knowledge of the plan told news agency Reuters, using an acronym for micro, small and medium enterprises.
Asian shares too rose on hopes that the COVID – pandemic is nearing a peak and roll out of more stimulus measures , while expectations of an oil production cut agreement bolstered crude prices.
Oil prices extended gains on hopes major producers will cut output at a meeting later in the day in response to a collapse in global oil demand.
Meanwhile, the novel coronavirus has spread across the globe, infecting more than 1.4 million people and causing more than , deaths.
India has entered the third week of its – day lockdown. The total number of coronavirus cases in the country rose to 5, 800, while the death toll is now 234, according to the Union health ministry data.
The – share BSE index had ended points or 0. (per cent lower at , 2019 and Nifty closed
(points, or 0. per cent, down at 8, 823.
The Times of India
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