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Sensex up 700 pts as RBI rolls out Rs 50k crore liquidity facility for MFs
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SI Reporter |
Last Updated at April 27, 2020 10:32 IST
EVENT HIGHLIGHTS
An across the board buying -- especially in index heavyweights Reliance Industries and HDFC -- drove the Indian markets higher, in line with the Asian indices, on Monday.
The S&P BSE Sensex jumped 760 points, or over 2.4 per cent, to 32,060. The Nifty50 index surpassed 9,350 levels after the Reserve Bank of India announced a Special Liquidity Facility worth Rs 50,000 crore for Mutual Funds.
All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 3 per cent.
Among individual stocks, financial stocks including Axis Bank, ICICI Bank, and IndusInd Bank were among the top gainers.
The S&P BSE Sensex jumped 760 points, or over 2.4 per cent, to 32,060. The Nifty50 index surpassed 9,350 levels after the Reserve Bank of India announced a Special Liquidity Facility worth Rs 50,000 crore for Mutual Funds.
All the Nifty sectoral indices were in the green, led by Nifty Bank index, up 3 per cent.
Among individual stocks, financial stocks including Axis Bank, ICICI Bank, and IndusInd Bank were among the top gainers.
RESULTS TODAY
IndusInd Bank and Ambuja Cements are scheduled to announce their March quarter results today.
Private lender IndusInd Bank’s net profit may plunge by as much as 95 per cent sequentially when it reports its March quarter earnings for financial year 2019-20 (FY20) on Monday. The number, analysts fear, may drop on the back of higher provisioning amid asset quality concerns in the wake of coronavirus (Covid-19) outbreak, and weak loan disbursement. READ PREVIEW HERE
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