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Sensex starts over 1,400 higher on Fed relief measures; pares gains

Published : Mar 24, 2020, 11:31 am IST
Updated : Mar 24, 2020, 11:31 am IST

Investor sentiment in Asia improved in anticipation of a revival in demand from the economic giant: Traders

 BSE tower. (Image- PTI)
  BSE tower. (Image- PTI)

Mumbai: Equity benchmark Sensex recovered over 1,400 points in opening session on Tuesday tracking gains in Asian peers after US Federal Reserve announced limitless bond-buying programme to support the US economy.

Investor sentiment in Asia improved in anticipation of a revival in demand from the economic giant, traders said.

After rallying 1,481.63 points, the BSE barometer gave up some gains to trade 443.27 points or 1.71 per cent higher at 26,424.51.

Similarly, the NSE Nifty was trading 165.55 points, or 2.18 per cent, up at 7,775.80.

Top losers in the Sensex pack included IndusInd Bank, Titan, L&T, Tata Steel, Asian Paint and ICICI Bank, while HCL Tech, HUL, Infosys and Tech Mahindra were the gainers.

In the previous session, the BSE benchmark plummeted 3,935 points or 13. 15 per cent to close at 25,981.24, while the NSE barometer Nifty cracked 1,135.20 points or 12.98 per cent to settle at 7,610.25.

The Federal Reserve announced it will buy unlimited amounts of US Treasury debt essentially printing money for the economy as well as new steps to lend directly to small- and medium-sized companies that have been among the hardest-hit as economic activity dries up.

The total number of Covid-19 cases in India stood at 492 on Tuesday morning, as per health ministry log.

Tags: bombay stock exchange, sensex, broader nifty, stock market, indian stock markets