Markets Witness Heavy Buying; Banking Stocks lead

Sensex Nifty-rise

Indian stock markets closed on a positive territory with the Sensex concluding at 29946.77-mark, up by 1411 points from the previous closing, and the Nifty scaled at 8661.45, up by 323 points on Thursday.

In the intra-day deals, the Sensex advanced over 1,550 points to reach at of 30,099.90 and the Nifty surged 431 points to 8,748-mark.

The market has recovered 674 points from the recent lowest levels of 29272 which was recorded on 23 January 2010.

IndusInd Bank, Larsen&Toubro, Bajaj Finance, Airtel, and Hero MotoCorp were the top Nifty50 gainers, while GAIL India, HCL Tech, SunPharma, TataSteel, and Tech Mahindra led the losses.

Among sectors, Nifty Private Bank surged 8.27 percent followed by Nifty Realty, up 7.28 percent. Nifty Bank and Financial Services were also up 6.36 and 5.75 percent each, whereas Nifty FMCG added 4.89 percent, and Nifty Auto and IT advanced 2.83 and 2.11 percent each. Track latest best stock to watch today, stock-tips from here.

As a major boost, The Finance Minister reportedly announced a Rs.1.7-Lac-Cr economic incentive plan that will be released through direct cash transfers and food security steps aimed at providing relief to millions of poor in the country under the lock-down situation.

Asian markets also climbed higher following two days of rallies as investor mood turned positive on the USD2-trillion stimulus package of the U.S announced.

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