Indian stocks made a strong recovery on Wednesday in sync with other global peers after the US stimulus deal bill for a $2 trillion package was passed on Tuesday night.
Benchmark indices ended nearly 7% higher, the biggest one-day gain since 18 May 2009. The BSE Sensex ended at 28,535.78, up 1861.75 points or 6.98%, while the 50-share Nifty index was at 8,317.85, up 516.80 points or 6.62%.
Stocks in Japan, China, Hong Kong, Australia, and Korea surged 2-8% after the White House and the Senate reached a deal on the stimulus bill to mitigate the impact of Covid-19.
Domestic markets are hopeful that the spread of Covid-19 will be contained in India following the nationwide lockdown, analysts said.