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Sensex, Nifty now up 24% from March lows after today's rally
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Sensex, Nifty climb on stimulus hopes, surge in banks and IT firms Indian stock markets posted strong gains for the second day in a row to close at six-week highs, boosted by gains in heavyweight banking and IT stocks.
Expectations of a fresh stimulus package from the government and higher global markets lifted domestic stock markets. The Sensex closed nearly 500 points higher at 31,863 while Nifty jumped 1.4% to 9,313.
Kotak Mahindra Bank Ltd closed up 8.5% while ICICI Bank climbed nearly 5%. IT giants Tata Consultancy Services Ltd (TCS) and Infosys Ltd jumped about 6% each.
Both Sensex and Nifty are now up about 24% from their March 24 lows. The rupee also today staged a sharp rebound to close 60 paise higher at 76.06 per US dollar.
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COVID-19
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India
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