Sensex, Nifty rally on easing of lockdown, positive global cues

Sensex jumps over 900 points in opening session, Nifty tops 9,800

India Financial Markets A stockbroker gestures as he watches the Bombay Stock Exchange (BSE) index on a trading terminal in Mumbai | AP

Equity benchmark Sensex rallied over 900 points in early trade on Monday, driven by gains in HDFC twins, ICICI Bank and Reliance Industries amid firm cues from global markets.

After touching a high of 33,334.96 in opening session, the 30-share index was trading 859.14 points or 2.65 per cent higher at 33,283.24.

Similarly, NSE Nifty surged 242.50 points or 2.53 per cent to 9,822.80. Axis Bank was the top gainer in the Sensex pack, rising around 7 per cent, followed by Tata Steel, Bajaj Finance, IndusInd Bank, SBI, ICICI Bank and HDFC twins.

On the other hand, Sun Pharma was the sole laggard.

In the previous session, the BSE barometer finished at 32,424.10, up 223.51 points or 0.69 per cent, while Nifty advanced 90.20 points or 0.95 per cent to close at 9,580.30.

On a net basis, foreign portfolio investors bought equities worth Rs 1,460.71 crore in the capital market on Friday, provisional exchange data showed.

Domestic investors tracked positive sentiment in the global market as gradual re-opening of businesses world over fuelled hopes of economic recovery.

The home ministry on Saturday said 'Unlock-1' will be initiated in India from June 8 under which the nationwide lockdown effectuated on March 25 will be relaxed to a great extent, including opening of shopping malls, restaurants and religious places.

However, strict restrictions will remain in place till June 30 in containment zones. The number of coronavirus cases in India crossed 1.90 lakh and the death toll climbed to 5,394, as per health ministry data.

Globally, the number of cases linked to the disease has crossed 61.66 lakh and the deceased tally stood around 3.72 lakh.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with significant gains. Meanwhile, international oil benchmark Brent crude futures were trading 0.66 per cent lower at USD 37.59 per barrel. 

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