RIL, ITC, HUL lift Sensex 700 points higher; check what’s moving Dalal Street today

IndusInd Bank was the top gainer on S&P BSE Sensex gaining close to 7% while, followed by Axis Bank, ITC and NTPC

On the back of the government’s move to ease lockdown and positive global cues, domestic equity market benchmarks Sensex and Nifty rose on Wednesday. The government has also released the list of all permitted activities from April 20 today. S&P BSE Sensex was trading 800 points or 2.60 per cent higher at 31,488, while the broader Nifty 50 index was ruling at 9,244, up 250 points or 2.78 per cent. IndusInd Bank was the top gainer on S&P BSE Sensex gaining close to 7% while, followed by Axis Bank, ITC and NTPC. The top laggard on the index was Kotak Mahindra Bank, down nearly half a per cent.

All sectoral indices trade higher: On the National Stock Exchange, all the sectoral indices were trading in positive territory. Nifty FMCG index gained the most, up over 4%, followed by Nifty Private Bank up 3.13%.

Top gainer and losers: On the National Stock Exchange, UPL was the biggest gainer going up by 14% to trade at Rs 370 per share, followed by IndusInd bank, Axis Bank, ITC and NTPC. Kotak Mahindra Bank was the only loser on the index down 0.39 per cent.

Rs 3 lakh crore gained: The market capitalisation of all BSE listed scrips jumped to Rs 122 lakh crore as markets gained on Wednesday. With the equity market capitalisation reaching Rs 122 lakh crore, investors wealth gained Rs 3 lakh crore in the morning trade. At Monday’s close, the market capitalisation of all BSE listed firms stood at Rs 119 lakh crore.

FII and DII data: Foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 1,244 crore while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,097 crore on Monday, data available with NSE suggested.

Global markets: US stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus outbreak overshadowed worrying earnings reports from JPMorgan and Wells Fargo. The Dow Jones Industrial Average rose 558.99 points, or 2.39%, to 23,949.76, the S&P 500 gained 84.43 points, or 3.06%, to 2,846.06 and the Nasdaq Composite added 323.32 points, or 3.95%, to 8,515.74.

Lockdown relaxation announced: The Union Home Ministry released detailed guidelines for the period of extension of the nationwide lockdown till May 3, 2020. All Medical facilities that include Aayush, health infrastructure related works, financial sector including bank branches and ATMs, Public utilities such as oil and gas sector, postal services will be fully-functional after April 20 according to news guidelines. While, passenger transport by Railways, airways or buses along with metro service in big cities; all educational, training and coaching institutions; all cab and taxi services, are among others to remain suspended after April 20.