Sensex Trades Higher On Strong Global Cues

Benchmark indices were trading higher, even as cues from across the globe were robust. The US Dow Jones saw a stunning 11 per cent rally on Tuesday on hopes of a stimulus package.

Back in Asia, most markets were trading with gains of 3-5 per cent. The Sensex was higher by 536 bpoints, while the Nifty gained 166 points in trade.

Shares in Inox Leisure were down 5 per cent, after Crisil placed ratings on the bank facilities at on 'Rating Watch with Negative Implications'

Rallis India too saw the shares fall after the company has shut its manufacturing operations at some plants due to the outbreak of coronavirus. The entire auto pack was weak on account of a 21-day lockdown imposed by the central government. Shares in Maruti and Mahindra and Mahindra were both trading lower.

Banking stocks continued to slump lower with Axis Bank down almost 2 per cent, while IndusInd Bank dropped 3 per cent.