INSUBCONTINENT EXCLUSIVE:
the 21-day nationwide lockdown next week.
However, market experts believe the rally is unlikely to sustain as uncertainty over the
strategy lifted market sentiment
Research, Geojit Financial Services.
Investor wealth increased by Rs 8 lakh crore as market capitalisation of BSE-listed firms increased to
around Rs 116 lakh crore from Rs 108 lakh crore on April 3
Markets were closed on Monday on account of Mahavir Jayanti.
Sanjeev Hota, Head of Research, Sharekhan by BNP Paribas seconded Nair
However, the rally may not sustain as fear of Covid-19 is still not away
the 30 components of BSE Sensex settled in the green with IndusInd Bank rallying the most at 25 per cent
It was followed by Axis Bank (up 20 per cent), Hindustan Unilever (up 14 per cent), Mahindra - Mahindra (up 14 per cent) and ICICI Bank (up
13 per cent).
Robust buying in financial, energy and auto packs supported the rally
The BSE Bankex, Energy, Auto and Telecom indices gained over 9 per cent each.
Abhimanyu Sofat, Head of Research, IIFL Securities, said the
rally was driven by positive news on the slowing rates of Corona infections in New York and Spain
However, one would need some additional positive news on the domestic front with regards to Corona for Nifty to go above the 9,000
economic stimulus and a drop in Coronavirus cases.
MSCI's Asia ex-Japan stock index was also up by over 2 per cent, while Japan's Nikkei
