An across-the-board buying helped frontline indices to settle with over a per cent gains on Wednesday, thus snapping their four-day losing streak. Further, investor sentiment also got a boost after the finance minister said the government would announce measures to tackle the financial fallout from the Covid-19 (coronavirus) outbreak amid a fall in new cases in China.
The S&P BSE Sensex rallied 429 points or 1 per cent to end the day at 41,323. Reliance Industries (RIL), HDFC, HDFC Bank, HUL, Bajaj Finance and ITC contributed the most to the index’s gains. Shares of Vodafone Idea jumped as much as 48 per cent to Rs 4.49 on the BSE on the back of heavy volumes on report that the government is unlikely to invoke bank guarantees for now. The stock eventually settled at Rs 4.19 apiece on the BSE, up over 38 per cent. On the NSE, the Nifty index settled at 12,126, up 133 points or 1 per cent.
Nifty50 closed higher at 12125.90 level, +133.40 points, or +1.11 per cent. Nifty Support : 12080 and 12020 Resistance : 12170 and 12220.
The S&P BSE Sensex rallied 429 points or 1 per cent to end the day at 41,323. Reliance Industries (RIL), HDFC, HDFC Bank, HUL, Bajaj Finance and ITC contributed the most to the index’s gains. Shares of Vodafone Idea jumped as much as 48 per cent to Rs 4.49 on the BSE on the back of heavy volumes on report that the government is unlikely to invoke bank guarantees for now. The stock eventually settled at Rs 4.19 apiece on the BSE, up over 38 per cent. On the NSE, the Nifty index settled at 12,126, up 133 points or 1 per cent.
