Expectations of a stimulus and global cues lifted domestic markets on Thursday despite a rise in covid-19 cases. The BSE Sensex ended at 31,159.62, up 1,265.66 points, or 4.23%, while the Nifty was at 9,111.90, up 363.1 5 points, or 4.15%.
Analysts said stock markets in India rose in sync with global markets on expectations the novel coronavirus infection was peaking, but warned that it may not sustain.
Joseph Thomas, head, research, Emkay Wealth Management, warned against calling a bottom. “It is too early to make that conclusion as the full economic ramifications of the demand destruction caused by the pandemic and which it is likely to cause is yet to come into full play as yet." Siddhartha Khemka, head, retail research, Motilal Oswal