Sensex Ends 986 Pts Higher On Solid Global Cues, RBI Measures

Benchmark indices jumped in trade, with the Sensex and the Nifty ending the day sharply higher, thanks to robust cues from across the globe and RBI's liquidity measures.

Reports of opening of the US economy and reducing covid-19 infections from around the globe, also helped buying support. Sentiments were buoyant after a report that a drug developed by Gilead Sciences was showing effectiveness in treating coronavirus.

The Sensex ended the day higher by 986 points, while the Nifty closed higher by 274 points. Leading the set of gainers from the Nifty were Eicher Motors, Axis Bank, IndusInd Bank and ICICI Bank. Most of the financial and banking stocks ended the day higher after the RBI announced liquidity boosting measures.

On the other hand stocks that lost ground were Nestle, Tech Mahindra, Sun Pharma and Titan Company.

Shares in Oberoi Realty jumped after the company repaid its NCDs ahead of schedule.

Hospital company, Shalby saw its shares rally after it informed the stock exchanges that it has received an order from the District Collector of Indore for preparation, availability, screening and testing of suspected cases of Covid-19 at their Hospital.

Meanwhile, the rupee ended 46 paise higher by at 76.51 per dollar, after some key measures announced by RBI to inject liquidity.

Markets are expected to be volatile next week and will take cues from developments around the world.

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