Sensex Jumps 500 Points, Asian Cues Strong

Benchmark indices were trading strong as Asian markets were higher, as Dow Jones Futures pointed to higher openings for the US markets later today.

The Sensex was trading with gains of 568 points, while the Nifty was up 165 points in trade. Shares in Mindtree was up 7 per cent, after net profit rose 4.7% to Rs 206.2 crores, while revenue increased 4.3% to Rs 2,050.5 crores.

Shares in MEP Infra was also up 4 per cent, after reports that Julius Baer Wealth Advisors (India) had bought a 2.42% stake in the company by the end of the March quarter. Granules India gained 4 per cent after the company got US FDA approval for Trospium Chloride capsules.

Among the stocks from the Nifty that were the top gainers were Zee Entertainment, IndsInd Bank, Axis Bank, UPL and Tata Steel.

Reliance Industries continued to see a sharp rally for the second day in a row and was up more than 2 per cent. Banking stocks which had seen a sharp fall on Friday managed to gain ground with HDFC Bank, ICICI Bank and Axis Bank all among the gainers.

Meanwhile, markets are expecting the government to partially open the lockdown later this week. Also, a stimulus package expectations manage to boost sentiments.

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