Stock Market Updates: Gains across sectors supported the upmove
Domestic share markets started Wednesday’s session on a positive note, extending recent gains to a fourth straight session, amid gains in global equities on renewed hopes for a new round of stimulus in the US. The S&P BSE Sensex index rose 326.66 points – or 0.81 per cent – to touch 40,888.19 at the strongest level in early deals, and the broader NSE Nifty 50 benchmark climbed to as high as 11,994.90, up 98.1 points – or 0.82 per cent – from its previous close. Gains across sectors – led by banking and automobile shares – backed the upmove.
At 9:23 am, the Sensex traded 321.93 points – or 0.79 per cent – higher at 40,866.30 and the Nifty was up 91.00 points – or 0.76 per cent – at 11,987.80.
Equities in other Asian markets moved higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan last seen trading 0.56 per cent higher.
Australian stocks edged up 0.1 per cent, Chinese shares 0.07 per cent, and Tokyo 0.4 per cent.
The E-Mini S&P 500 futures gained 0.44 per cent, indicating a positive start for US markets on Wednesday.
A slowdown in daily coronavirus cases fuelling hopes that the government will further ease restrictions is driving market optimism, say analysts.
On Tuesday, the Sensex had ended 112.77 points – or 0.28 per cent – higher at 40,544.37, and the Nifty settled at 11,896.80, up 23.75 points – or 0.20 per cent – from its previous close.