Equity benchmark indices moved up during early hours on Wednesday following positive cues from global markets. Though the gains were capped by the government’s decision to extend the COVID-19 lockdown till May 3, reports said another stimulus package is in the making aimed at some of the worst-affected sectors.
At 10:15 am, the BSE S&P Sensex was up by 758 points (2.56%) at 31,448 while the Nifty 50 edged higher by 222 points at 9,216.
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All sectoral indices at the National Stock Exchange were in the green with Nifty pharma gaining by 3.76%, FMCG by 2.6%, PSU bank by 2.3% and realty by 1.9%.
Among stocks, chemical major UPL gained by 10% to Rs 357.40 per share. Hindalco was up by 4.8%, Sun Pharma by 4.7%, Axis Bank and IndusInd Bank by 4.7% and 4.2% respectively.
The other major gainers were Britannia, Hindustan Lever, Larsen & Toubro and Grasim. However, Kotak Mahindra Bank, Bharti Infratel, Bajaj Finance and Maruti traded with a negative bias.
Meanwhile, Asian share markets were on the edge as warnings of the worst global recession since the 1930s underlined economic damage already done even as some countries tried to re-open for business.
Japan’s Nikkei was down by 0.26% but South Korea’s Kospi moved up by 1.72%.
(With ANI Inputs)
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