All Eyes On Nirmala Sitharaman’s Economic Package Even As Sensex Surges Over 700 Points ; Nifty Tops 8,400 Points

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Equity benchmark Sensex jumped over 700 points in opening session led by gains in HDFC twins, Infosys, ICICI Bank and Axis Bank amid mixed global cues.

The 30-share BSE barometer was trading 713.76 points or 2.30 per cent higher at 29,249.54.

Similarly, the NSE Nifty was up 167.95 points, or 2.02 per cent, at 8,485.80.

IndusInd Bank was the top gainer in the Sensex pack, rallying up to 20 per cent, followed by Axis Bank, Bajaj Auto, ICICI Bank, HDFC and Bajaj Finance. On the other hand, ITC, Maruti and ONGC were the top losers.

In the previous session, the BSE gauge Sensex shot up 1,861.75 points or 6.98 per cent to settle at 28,535.78, and the NSE barometer Nifty spurted 516.80 points or 6.62 per cent to end at 8,317.85 the biggest single-day gain for the indices.

According to traders, investors are weighing the economic impact of the 21-day lockdown in the country.

All eyes are Finance Minister Nirmala Sitharaman’s economic package to cushion the economic impact of the lockdown to curb the spread of Covid-19, expected to be announced shortly, they said.