July 13, 2020 | 2:37 PM IST
Equity market

Equity market leaps over 4% after PM Modi’s 20L Cr Covid-19 relief-package

After Prime Minister Narendra Modi announced a Rs 20 crore relief-package on Tuesday night, the domestic stock markets started with strong gains, on Wednesday, morning. The gains were led by the financial and automobile sector covering the registered losses of Monday and Tuesday.
The equity markets opened more than 4.69% (1,470.75 points) higher at 32,841.87 at S&P Bombay Stock Exchange (BSE) Sensex Index and the NSE Nifty 50 benchmark started the day at 9,584.20, up 387.65 points (4.22%) from the previous close.

The HDFC Bank and ICICI Bank together contributed to the gain by over 400 points with 5.02% and 7.76% gains respectively, while the auto index soared by 4.27% (243 points) with Maruti Suzuki, Axis Bank, Hero MotoCorp being the major performers. The other top rankers included, Reliance Industries, Larsen and Tubro, Infosys, Bharti Airtel, HUL, and Axis Bank. Even Vedanta shares rose 9.7% to Rs 98.2 on BSC for the third straight session on Wednesday.
Out of the 30 Sensex stocks, 26 were doing business as top gainers, while Nestle India, Adni Ports, Sun Pharma, and TCS lagged behind.
Meanwhile, Godrej Consumer Products and Kotak Mahindra Bank Maruti Suzuki, Mphasis, Schaeffler India, Siemens are likely to announce their Q4 results today.

Editor In Chief

Editor In Chief is an publisher and journalist. He is regular columnist of the website NewsInInd. He is experienced in national and political issues with more than 500 blogs.