Sensex jumps over 650 points in opening session; Nifty tops 9,000

Dubai - Indian shares slipped on Monday as investors were unimpressed by the government's economic relief measures.

Equity benchmark Sensex surged over 650 points and Nifty touched 9,000 mark on Tuesday led by gains in HDFC twins, Bharti Airtel and Kotak Bank amid positive cues from global markets with support from top banking stocks.
After starting at 30,450.74, the 30-share index was trading at 394 points or 1.31 per cent higher at 30,422.98.
Similarly, NSE Nifty jumped 91.10 points, or 1.03 per cent, to 8,914.35.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by Bharti Airtel, HDFC, Maruti, Bajaj Auto, Kotak Bank, Hero MotoCorp and PowerGrid.
On the other hand, IndusInd Bank, SBI, Asian Paints and Axis Bank were trading with losses.
In the previous session, the BSE barometer settled 1,068.75 points or 3.44 per cent lower at 30,028.98, while the broader NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
Foreign portfolio investors offloaded equities worth Rs25.12 billion in the capital market on Monday, provisional exchange data showed.
According to traders, hopes of a vaccine for Covid-19 enthused global investor sentiment.
In a significant development, an American biotechnology company Moderna has said its initial vaccine tests in people have shown promising results and can stimulate an immune response against the coronavirus.
However, the rising number of cases in the country kept market participants cautious, they said.
The number of Covid-19 cases in India spiked to 1,01,139, while the death toll rose to 3,163, according to the health ministry.
Indian shares slipped on Monday as investors were unimpressed by the government's economic relief measures and coronavirus cases continued to rise steadily, while a boost in Reliance Industries and Cipla limited losses.
The NSE Nifty 50 index fell 0.80 per cent to 9,063.85 by 0400 GMT, while the S&P BSE Sensex slid 0.79per cent to 30,845.65. The Nifty banking index fell 2.5 per cent.
India on Sunday extended a nationwide lockdown to May 31, while easing some restrictions, but a ban on air travel and several public gatherings still remained. As of Monday, India's tally of coronavirus infections surged past 96,000, while deaths surpassed 3,000.
Shares in drugmaker Cipla Ltd jumped 2 per cent after March-quarter results on Friday and its filing of a new drug application for a generic version of GSK's blockbuster lung drug Advair. Indian oil-to-telecoms conglomerate Reliance Industries Ltd gained one per cent after unveiling yet another sizeable investment in its digital arm. - PTI, Reuters