After PM Modi’s Rs 20 Lakh Crore Economic Booster, Sensex Opens on Positive Note, Zooms Over 1,400 Pts

Mumbai: A day after Prime Minister Narendra Modi announced a Rs 20 lakh crore stimulus package to battle the COVID-19 pandemic, the 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note. Equity benchmark Sensex rallied over 1,400 points in the opening session. Also Read – Coronavirus: PM Modi Announces Rs 20 Lakh Crore Economic Package, Says Lockdown 4.0 Will be Totally Different | Top Developments

After touching a high of 32,845.48, the 30-share index pared some early gains to trade 818.68 points or 2.61 per cent higher at 32,189.80. Also Read – From March 19 to May 12, Here is How Long Each of PM Modi’s Addresses to Nation on COVID-19 Lasted

Similarly, NSE Nifty soared 213.50 points, or 2.32 per cent, to 9,410.05. Also Read – PM Modi’s COVID-19 Package Will Place India Back on Path of Economic Recovery, Says CII

ICICI Bank was the top gainer in the Sensex ed a Rs 20 lakh crore stimulus packapack, surging around 7 per cent, followed by L&T, Axis Bank, Bajaj Finance, Hero MotoCorp, M&M, UltraTech Cement and Maruti.

On the other hand, Nestle India, Bharti Airtel, Sun Pharma and Reliance Industries were trading in the red.

In the previous session, the BSE barometer settled 190.10 points or 0.60 per cent lower at 31,371.12, and broader Nifty declined 42.65 points, or 0.46 per cent, to 9,196.55.

In India, the death toll due to COVID-19 rose to 2,415 and the number of cases climbed to 74,281, according to the health ministry.

According to analysts, domestic investors cheered the government’s massive stimulus package to revive the pandemic-stricken economy.

Further, Rupee rose 21 paise to 75.30 against US dollar in the early trade.

(With agency inputs)