Mumbai: Domestic equity market benchmarks BSE Sensex and Nifty 50 index ended the session with nearly 2 per cent gains on Wednesday. The 30-share index Sensex rose 726 points from day’s low during the trade and settled at 32,720, up 605 points. While the broader Nifty 50 index hit day’s high of 9,599 in the intraday session. It ended the session at 9,553, up 173 points or 1.84 per cent.
As many as 23 Sensex stocks finished the trade in green with HDFC as the top gainer, up 6.55 per cent, followed by HCL Tech, M&M, HDFC Bank and State Bank of India (SBI). On the other hand, the pack of laggards was led by Axis Bank, down 3.63 per cent. Asian Paint, Hindustan Unilever (HUL), Titan and IndusInd Bank were among other losers on the Sensex. Barring Nifty FMCG and Nifty Pharma, all the sectoral indices ended the session in positive territory. Nifty Metal index was top sectoral gainer with a growth of 3.74 per cent, led by SAIL, Hindalco Industries and Jindal Steel.
Moody’s Investors Service on Tuesday slashed India’s growth forecast to 0.2 per cent for the 2020 calendar year from the earlier projection of 2.5 per cent released in March. Stating that the economic costs of shutdown of the global economy are accumulating rapidly, Moody’s in its Global Macro Outlook 2020-21 (April 2020 Update) projected that all G-20 advanced economies would contract by 5.8 per cent in 2020.
