Sensex rises 997 points, Nifty closes at 9,859.00

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New Delhi, Thursday 30 April 2020

Domestic markets are also making new leaps on the back of positive global signals, with the stock market closing higher on Thursday.

The 30-share Sensex of the Bombay Stock Exchange jumped 997.46 to close at 33,717.62 today. At the National Stock Exchange, the Nifty touched a day high of 9,889.05 and closed at 9,859.00, up 306 points.

The rally was seen in all sectors, including Nifty Midcap-50, Auto, Bank, IT, Metal, PSU, Private Bank. However, media and auto sector stocks remained at the red mark.

Reasons for the stock market boom

US markets rallied on Wednesday, with Facebook and Microsoft outperforming Asian markets.

According to the American pharmaceutical company Glide Science, their anti-viral drug Rimdesivir is showing good results in trials on corona patients. There was also a sharp rise in crude oil prices in the hope of opening up the global economy.

One more relief package is expected by the government in the stock market, the government can give a big relief package in a day or two, the measures taken by the Reserve Bank on liquidity in the last few days have supported the market.

The US Fed has not made any changes in interest rates, interest rates will remain close to zero, the US Fed's focus will be on eliminating unemployment and controlling inflation.


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