Day 2 of Sensex rally

Continuing the week with positive sentiments, Sensex on Tuesday rose by 1.17 per cent, higher than its previous close or by 371.44 points to be at the level of 32,114.52. Nifty gained by 1.06 per cent or 98.60 points to the reach level of 9,380.90.

Post the government’s recent announcements about stimulus package to aid in reviving the economy, investor sentiments were filled with higher confidence on the expectation of more stimulus announcements. With a rise in worries about limited storage capacity for crude worldwide, WTI crude price witnessed a fall by nearly seven per cent and was trading at around USD 11.89 per barrel for June contracts. Brent Crude lost by 11.05 per cent and was trading at around USD 20.52 per barrel. Weakness was seen in Asian indices as well, such as Shanghai index which fell by 0.19 per cent, Nikkei closed down by 0.061 per cent, Hang Seng and KOSPI on the other hand, gained by 1.22 per cent and 0.59 per cent, respectively. FTSE 100 opened on a positive note, trading higher by 1.50 per cent, CAC 40 opened up by 1.30 per cent and Dax was trading in green, up by 1.60 per cent as well. Gaining from the positivity emitted by the domestic stocks and weak American currency in the overseas markets, rupee rose by seven paise to close at 76.18 against US dollar.

Sensex pushers included IndusInd Bank which gained by 15.11 per cent, Bajaj Finance closed up by 9.04 per cent, HDFC rose by 7.7.4 per cent, Axis Bank went up by 6.61 per cent, ICICI Bank was up by 3.44 per cent, M&M went up by 2.16 per cent, SBI Bank rose by 1.91 per cent, etc.

Losers on Sensex consisted of Sun Pharmaceutical which fell by 3.27 per cent, NTPC fell by 2.11 per cent, Nestle India closed down by 2.09 per cent, HCL Technologies closed down by 1.99 per cent, Asian Paints fell by 1.52 per cent, Power Grid dropped by 1.32 per cent, RIL fell by 0.15 per cent, etc.

Amongst sectoral indices, Finance and Bankex were the biggest gainers as they gained by 3.53 per cent and 2.94 per cent, respectively. Majority of other indices reported minimal movements. Healthcare index was the biggest loser, shedding 1.65 per cent. Mid-Cap and Small-Cap indices closed at 0.80 per cent and 0.77 per cent, respectively.