Sensex Shoots Over 900 Pts on Day 1 of ‘Unlock’, Nifty Tops 9,800 in Early Trade

New Delhi: In the early hours of trade on the first day of ‘Unlock 1’, the slow-paced resumption of normal activities, sensex jumped 900 points higher at 33,334.96 and broader Nifty rose 244.10 points to 9,824.40, mainly driven by gains in the banking sector. Also Read – Sensex, Nifty Slip Below 2% as Financial Stocks Tumble, Banking Shares Take Hit

HDFC twins, ICICI Bank and Reliance Industries were on top of the list amid firm cues from global markets. Axis Bank was the top gainer in the Sensex pack, rising around 7 per cent, followed by Tata Steel, Bajaj Finance, IndusInd Bank, SBI. Also Read – After Sitharaman’s Liquidity Measures, Indian Equity Market Opens on Negative Note; Sensex Falls by 600 Pts

On the other hand, Sun Pharma was the sole laggard. Also Read – After PM Modi’s Rs 20 Lakh Crore Economic Booster, Sensex Opens on Positive Note, Zooms Over 1,400 Pts

In the previous session, the BSE barometer finished at 32,424.10, up 223.51 points or 0.69 per cent, while Nifty advanced 90.20 points or 0.95 per cent to close at 9,580.30.

The Indian rupee appreciated 32 paise to 75.30 against the US dollar in opening trade on Monday supported by the government’s reopening plan for the domestic economy.

The government on Saturday announced a phased exit to the nationwide lockdown that begins on June 1 after the over-two-months-long shutdown effectuated on March 25.

Many relaxations have been announced including opening of shopping malls, restaurants and religious places.

However, strict restrictions will remain in place till June 30 in containment zones.

Domestic investors tracked positive sentiment in the global market as gradual re-opening of businesses world over fuelled hopes of economic recovery.

The number of coronavirus cases in India crossed 1.90 lakh and the death toll climbed to 5,394, as per health ministry data.

Globally, the number of cases linked to the disease has crossed 61.66 lakh and the deceased tally stood around 3.72 lakh.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with significant gains.

Meanwhile, international oil benchmark Brent crude futures were trading 0.66 per cent lower at USD 37.59 per barrel.

On a net basis, foreign portfolio investors bought equities worth Rs 1,460.71 crore in the capital market on Friday, provisional exchange data showed.