Sensex ends up by 479.68 pts
Economy

Sensex ends up by 479.68 pts

Agency News

Mumbai, Mar 3 : Snapping a losing streak of last seven sessions, the BSE Sensex on Tuesday rallied by 479.68 points to 38,623.70 on fresh buying across the board amid positive global cues expecting that global central banks will introduce monetary policy measures to mitigate the economic impact of the coronavirus.

The Group of Seven (G-7) industrial powers were expected to issue a statement this week on countering the coronavirus outbreak. Meanwhile, a statement by the Reserve Bank of India (RBI) also boosted investors confidence. The National Stock Exchange (NSE) too rose by 170.55 points to 11,303.30. The Nifty registered days high and low at 11,342.25 and 11,152.55 points respectively.

The sensex opened on a strong note at 38,480.89, rising by 336 pts. During the day it spurted by 610 pts to 38,754.24 day high before closing at 38,623.70, advancing by 479.68 pts from its previous close. The sectoral indices metals was the major gainer, up by 5.67 pc followed by healthcare , power, oil and gas, realty and energy boosted the market today. Seeing scrips, Sun Pharma, Tata Steel, ONGC, Ultracemco and NTPC went up while ITC and HDFC Bank slipped that capped from further gain, broker informed. In broader market, the S&P BSE Mid-Cap index was up 1.79% while the S&P BSE Small-Cap index was up 1.25 pc. The market breadth was positive.

On the BSE, 1248 shares rose and 1159 shares fell. A total of 152 shares were unchanged. In Nifty 50 index, the market breadth remained positive with 48 stocks advancing and 2 stocks declining. Shares in Europe extended gains while Asian shares ended mostly higher on Tuesday on hopes that central banks will coordinate some kind of monetary policy response to lessen the economic impact of the coronavirus. Global financial ministers and central bankers will hold a conference call on Tuesday to coordinate their response to the outbreak. (UNI)

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