Sensex rallies 1,325 pts; Nifty reclaims 9,900


PTI, Mar 13, 2020, 4:36 PM IST

Mumbai: Equity benchmark Sensex spurted 1,325.34 points while the Nifty reclaimed the 9,900 level after a highly volatile session on Friday as investors rushed to buy stocks at beaten-down valuations after markets saw their biggest sell-off earlier in the day.

As coronavirus-led recession fears triggered panic selling globally, indices plunged over 10 per cent in the opening session, hitting their lower circuit levels.

Stock exchanges halted trading for 45 minutes within 15 minutes for market opening. Normal trading resumed at around 1030 hours.

The last circuit freeze happened in January 2008.

Recovering over 5,380 points from its intra-day low of 29,388.97, the BSE Sensex ended 1,325.34 points or 4.04 per cent higher at 34,103.48.

Similarly, the NSE Nifty settled 365.05 points, or 3.81 per cent, up at 9,955.20. It hit an intra-day low of 8,555.15.

Most Sensex components ended with gains. SBI was the top gainer, rallying over 13 per cent, followed by Tata Steel, HDFC, Sun Pharma, Bajaj Finance, Bharti Airtel and ICICI Bank.

On the other hand, Nestle India, Asian Paints, HUL, Hero MotoCorp and HCL Tech ended in the red.

Fears of a global recession spiked, triggering a manic selloff in world stocks, analysts said, adding that the market is concerned about the adverse economic impact of government lock-downs across the world to contain Covid-19.

Bottom-fishing at hammered valuations helped the market recover from the day’s lows, they added.

In the rest of Asia, Shanghai slipped 1.23 per cent, Hong Kong 1.14 per cent, Seoul 3.43 per cent and Tokyo 6.08 per cent.

Bourses in Europe opened up to 4 per cent higher.

The rupee too witnessed a sharp recovery, appreciating 47 paise to 73.81 per US dollar (intra-day).

Brent crude oil futures surged 5.51 per cent to USD 35.05 per barrel.

The total number of confirmed coronavirus cases in India stood at 75, including 17 foreigners, as per health ministry data.

Around 1,30,000 cases of Covid-19 have been recorded in 116 countries and territories, killing at least 4,900 people.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Udupi: 8 injured in ‘rabid’ stray dog attack

NEET-UG revised results: 682 highest for Haryana centre that saw 6 scoring full marks

Spaniard Manolo Marquez named Indian men’s football team head coach

Mizoram bids farewell to Zadingi, the fearless woman who killed a tiger with an axe

Kaup: Bike rider killed in horrific collision with car

Jharkhand court convicts 5 Jamtara cyber criminals for money laundering

Students of govt, govt-aided schools in Karnataka to get eggs six days a week

Related Articles More

Job-for-locals bill: Skilling, not legislation, key to meet evolving industry demands, say experts

Nobody expects RBI to be cheerleader, coordination with government helped fast revival in economy: Governor Das

Infosys shares jump nearly 5 pc; market valuation jumps by Rs 20,843 cr after earnings announcement

Will support whatever regulations, guidelines come: Infy CEO on draft K’taka reservation bill

Markets decline in early deals on weak global peers, profit-taking

MUST WATCH

Brahma Kumaris

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar


Latest Additions

Udupi: 8 injured in ‘rabid’ stray dog attack

Karnataka landslide: Missing lorry driver’s family seeks Army’s help in rescue

Gujarat rain fury: Flood-like situation in Saurashtra region districts; NDRF teams deployed

Mangaluru: Court acquits 2 accused in Rs 2.35 crore robbery case

CBI nabs NIT graduate, 2 MBBS students in NEET-UG leak case

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.