Sensex opens 352.50 points higher at 28,640.73; Nifty at 8,332.10 points

MUMBAI: The S&P benchmark BSE Sensex opened Friday’s session on a positive note amid cautious gains in Asian peers, a day after Prime Minister Narendra Modi announced an economic taskforce to fight the coronavirus outbreak.

 The S&P BSE Sensex index opened 352.50 points higher at 28,640.73 and the broader NSE Nifty 50 benchmark started the day at 8,332.10 points, little up from the previous close.

Analysts the world over are weighing the fast-spreading coronavirus pandemic against the policy measures being announced to fight its impact on business. 

While addressing the nation on the fast-spreading coronavirus, Prime Minister Narendra Modi said on Thursday that a COVID-19 Economic Response Task Force will be set up under the leadership of Finance Minister Nirmala Sitharaman to deal with the economic fall-out of the coronavirus pandemic.

PM Modi announced a junta curfew between 7 am and 9 pm on Sunday, so as to minimize the possibility of crowding and thereby promote social distancing, which is currently the most effective means of arresting the spread of COVID-19.

Earlier on Thursday, market regulator SEBI announced a one-month extension to companies for filing their earnings for financial year 2019-20.

Equities in other Asian markets traded higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan last seen trading 0.6 per cent higher.