MARKET LIVE: Sensex leaps 1,000 points, Nifty tops 9,800; auto, metals gain

Indian equity markets advanced on Thursday tracking favourable global cues as positive results for experimental remdesivir drug towards Covid-19 treatment lifted sentiment. Besides, the government's announcement to give considerable relief to many districts post May 4 boosted sentiment.

The S&P BSE Sensex jumped 1,000 points, or 3.17 per cent, at 33,757.35 and the Nifty50 index hovered around 9,830 levels. Auto stocks led the charge. Maruti Suzuki India (up 6%) and Mahindra & Mahindra (up 4%) were among the top Sensex gainers. Reliance Industries was also up 1 per cent ahead of the March quarter results today.

All the Nifty sectoral indices were in the green, led by Nifty Auto index, up 5 per cent.
 

RESULTS TODAY
 

The oil and gas business of Reliance Industries is expected to take a steep hit with a sharp drop in gross refining margins although non-energy businesses like retail and telecom are expected to save the day. READ MORE

In IT major Tech Mahindra's Q4 results, investors will watch out for any update on the execution of large deals it won in the past four-five months, and a timeline of progress on its 5G rollout. READ MORE

Analysts say Hindustan Unilever, like most consumer goods companies, would have taken a hit during the quarter under review due to Covid-19 lockdown, which has caused enormous logistical issues. READ MORE