BSE Sensex crosses 2,000 points, Nifty 50 up by nearly 600 points

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The shares of Reliance Industries (RIL) advanced 10 per cent as reports of social media giant Facebook buying a 10 per cent stake in Reliance Jio were trending in the morning trade. - File photo
The shares of Reliance Industries (RIL) advanced 10 per cent as reports of social media giant Facebook buying a 10 per cent stake in Reliance Jio were trending in the morning trade. - File photo

Dubai - The BSE Sensex was up 7.75 per cent or 2,066.67 points at 28,740.70 and Nifty 50 also recovered by 7.17 per cent or 559.45 points at 8,360.50.

By Staff Report

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Published: Wed 25 Mar 2020, 9:27 AM

Last updated: Wed 25 Mar 2020, 2:21 PM

The Indian stocks did rebound on Wednesday morning amid high volatility as both the BSE Sensex and Nifty were back in black, tracking recovery in US Futures and Dow Futures.
The US senators and Trump administration officials reached an agreement on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak, White House official Eric Ueland said early on Wednesday.
"We have a deal," Ueland told reporters after days of negotiations on the package, expected to be worth $2 trillion.
The BSE Sensex was up 7.75 per cent or 2,066.67 points at 28,740.70 and Nifty 50 also recovered by 7.17 per cent or 559.45 points at 8,360.50.
The Indian Rupee and bond markets were closed on Wednesday for a local holiday.
The shares of Reliance Industries (RIL) advanced 10 per cent as reports of social media giant Facebook buying a 10 per cent stake in Reliance Jio were trending in the morning trade.
The S&P BSE Sensex index rose as much as 625.41 points to touch 27,299.44 in the first few minutes, after opening down 174.22 points at 26,499.81.
The broader NSE Nifty 50 benchmark climbed to as high as 7,980.35, up 179.3 points from the previous close, after starting the session at 7,735.15. Top gainers were Reliance Industries, Bajaj Finance, Nestle, Bajaj Finserv, Tech Mahindra, Britannia and Cipla, up between 3.11 per cent and 8.01 per cent each. 
Srikanth Iyengar, managing partner, Five Capital, said: "The Indian markets are up on the back of the rise of the DJIA yesterday. The SPX futures too are higher today lending credence to yesterday's move. The Indian government also has now declared a lockdown for 21 days to flatten the curve of Corona cases. The markets are looking forward to the fiscal and monetary stimulus which would be announced later in the week." - business@khaleejtimes.com



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