Benchmark indices end the week in green

For the benchmark indices, the current week was full of gaining sessions as even today i.e. on April 30, Sensex rose by 997.46 points which is 3.05 per cent higher than its previous close to reach the level of 33,717.62 while, Nifty jumped by 306.55 points, which is 3.21 per cent to be at the level of 9,859.90.

While, Nifty basket saw 44 advances and 6 declines; Sensex basket included 26 advancing stocks and four declining ones. Sensex soar was a result of heavy buying in IT and banking stocks which pulled the index upwards. Reserve Bank of India (RBI) announced on extending the regulatory benefits under the special liquidity facility for mutual funds (SLFMF) to all banks. The banks claiming the regulatory benefits would be required to submit a weekly statement. A major boost to the stock market push came from the news that US-listed Gilead's trial for its drug Remdesivir showed that it can help speedy recovery from the illness caused by COVID-19.

Meanwhile, In India, Glenmark Pharmaceuticals became the first company in the country to receive an approval from Drug Controller General of India (DCGI) to conduct trials of Favipiravir antiviral tablets for the treatment of COVID-19 patients.

Read it here:

https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/12664/Glenmark-receives-DCGI-nod-to-conduct-COVID-19-clinical-trials

Moreover, easing of lockdown is expected from May 4, 2020 in the country, which created positive sentiments among investors. Indian rupee was seen surging by 57 paise to close at 75.09 (provisional) against US dollar.  

Sensex gainers were made up of ONGC which leaped by 13.40 per cent, followed by HCL Technologies-up by 10.44 per cent, Hero MotoCorp-up by 9.94 per cent, TCS went up by 5.76 per cent, Maruti Suzuki closed up by 5.68 per cent, M&M went up by 5.33 per cent, Bajaj Auto closed in green, up by 5.11 per cent, etc. HDFC twins HDFC & HDFC Bank rose by 4.36 per cent and 2.56 per cent, respectively.

Sensex losers included Sun Pharmaceutical shedding 2.72 per cent, HUL fell down by 1.63 per cent, IndusInd fell by 0.55 per cent and Asian Paints dropped by 0.45 per cent.

As for sectoral indices, Metal was the biggest gainer, closing in green, up by 8.27 per cent. Following it, indices such as Auto, IT and Oil & Gas rose by 5.96 per cent, 5.64 per cent and 4.62 per cent, respectively. Healthcare and FMCG dipped by 0.58 per cent and 0.12 per cent each. Mid-cap index gained by 1.46 per cent while, Small-cap index rose by 1.15 per cent.