The Nifty index ended higher by 6.4% at 8,298 levels - Religare Broking
Post a sluggish opening, the Indian benchmark indices rebounded sharply led by short-covering and positive global cues. The Nifty index ended higher by 6.4% at 8,298 levels. The broader markets too ended with smart gains but continued to underperform the benchmark. On the sector front, all the indices ended higher wherein Banking, Capital Goods and Consumer Durables were the top gainers.
The recent positive announcements from the US Fed and rising hopes of a stimulus package from the Indian government have lifted sentiments. Going forward, we expect volatility would remain high in the near term and any sustainable rally would largely depend upon how effectively we can contain the spread of Coronavirus now with a 21-day nationwide lockdown in place.