Sensex closes 425 points higher, Nifty ends at 14,617, buoyed by RBI measures

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New Delhi: Sensex and Nifty ended Wednesday’s trading session in the green zone, buoyed by RBI’s second round of loan restructuring and other relief measures to counter the impact of Covid-19`s second wave across the country. 

Sensex closed 0.88% or 424.04 points higher at 48,677.55 while Nifty ended 0.84% or 121.35 points higher at 14,617.85. Barring Nifty realty which cracked by 1 per cent, most of the sectoral indices ended the day on a positive note. 

In the Sensex pack, Sun Pharma was the top gainer, jumping over 6%, followed by Kotak Bank, Axis Bank, IndusInd Bank, ICICI Bank, Dr Reddy’s, Titan and TCS. Stocks such as Bajaj Finance, Asian Paints and HUL were the market laggards on Wednesday.

“Domestic equities rebounded mainly supported by financials, IT and pharma. Notably, the announcement of liquidity supports by the RBI’s Governor to tackle the challenges coming from the second wave of COVID-19 crisis aided financials to rebound,” said Binod Modi, Head Strategy at Reliance Securities.

Earlier in the day, the RBi announced a slew of measures including loan restructuring for individual and small businesses. RBI Governor said that the central bank will continue to monitor the situation from resurgence of COVID-19 cases and will deploy all resources and instruments at its command especially for the citizens, business entities, and institutions beleaguered by the second wave.

– With inputs from PTI. 

 

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