Ranch
Indian The stock surged about 7% on Wednesday as risk sentiment was fueled by the US $ 2 trillion stimulus bill. The hope of the Indian government for a multi-billion dollar bailout plan has also raised investor sentiment.

Ranch
The Sensex index rose 1,862 points to 28,536 points, the Nifty50 index rose 517 points, or 6.6%, to close at 8,318 points, the largest single-day increase since May 2009 in the benchmark index.

Ranch
Most Asian and European Soaring after the United States Announcing the biggest one-day gain since 1933, Dow Jones rose 11% on Tuesday.

Ranch
The $ 2 trillion package is as the world's largest fiscal response to the crisis. It includes unemployment insurance, small business loans and bad business loans.

chart

Ranch
"Many other countries have already reached this stage with regard to the overall blockade, and India is just beginning to reach its peak," said Andrew Holland, CEO of Avendus Capital Alternate Strategies.

Ranch
One day after Prime Minister Narendra Modi announced a 21-day national blockade to curb the spread of COVID-19, the domestic market rose sharply. Although market participants welcomed the move, they said it should be supported by relief measures.

Ranch
"We are still waiting From the Indian government. The U.S. is working to uncover the biggest Valentis Advisors founder Jyotivardhan Jaipuria said: "Historically, large-scale bailouts have been carried out in Europe." He added that investors will closely monitor developments for further hints.

Ranch
At the opening, the benchmark index had fallen to a deficit, although some Asian markets jumped 7%, and economic losses caused by the 21-day lock-up period dampened market sentiment. However, sharp increases in index-heavy stocks such as Reliance Industries, HDFC Bank and HDFC ensured the market closed high. Many stocks are seeing low levels of block trades. This caused stocks of Axis Bank, ICICI Bank and Nestle India to surge from their lows of the day.

See also  Mark Zuckerberg says good regulation will hurt Facebook's business, but he still hopes so

Ranch
Except for four stocks, all Sensex stocks rose. Reliance Industries, the best performing Sensex stock, rose 14.6% due to reports that Facebook intends to acquire a 10% stake in Reliance Jio.