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By: PTI|Mumbai |
Published: March 5, 2020 10: 13: 22 am
Share Trading at a firm in Kolkata. (Express picture by Partha Paul)
Equity standard Sensex jumped almost 300 points in opening session on Thursday tracking favorable cues from worldwide equities as main banks across the international prepare to combat the financial pressure of the coronavirus outbreak.
After rising 299 points in early trade, the 30- share index was up 191.75 points, or 0.50 percent, at 38,60123, and the NSE Nifty rose 49.25 points, or 0.44 percent, to 11,30025
HUL, HCL Tech, Tata Steel, Nestle India, TCS and Asian Paints were amongst the leading gainers, while ICICI Bank, L&T, PowerGrids, NTPC and Dependence Industries were trading in the red.
In the previous session, the 30- share BSE barometer settled 214.22 points or 0.55 per cent lower at 38,40948, and the Nifty closed 52.30 points or 0.46 per cent down at 11,251
On a net basis, foreign institutional financiers (FPIs) sold equities worth Rs 878.38 crore, while domestic institutional investors purchased shares worth Rs 764.13 crore on Wednesday, data readily available with stock exchanges revealed.
According to traders, investors were confident that the cumulative efforts of international governments and central banks would cushion the economic fallout of coronavirus.
The IMF on Wednesday said will offer about USD 50 billion through its rapid-disbursing emergency situation financing centers for low earnings and emerging market countries that might possibly look for assistance on account of coronavirus.
Bourses in Shanghai, Hong Kong, Seoul and Tokyo rallied as much as 1 per cent.
Stock market in the US too ended sharply higher on Wednesday.
Global oil criteria Brent unrefined futures leapt 1.37 percent to USD 51.83 per barrel.
Best Forex (Click Here For Best Forex Techniques) robot Rupee
The Indian rupee continued its down journey on Thursday, sliding another 5 paise to trade at 73.44 against the US dollar amidst mounting fears of a coronavirus-led economic downturn.
At the interbank foreign exchange, the local system started the session on favorable note however quickly anxiousness surrounding coronavirus grasped the Forex (Click Here For Best Forex Techniques) market belief, pulling the rupee down to 73.44 against the previous day’s close of 73.39 a dollar.
The dollar index, which assesses the greenback’s strength against a basket of 6 currencies, was partially down at 97.33
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