Sensex returns to pre-budget level, soars 917 points

Smiles returned on the faces of investors as the market rebounded to rise 917 points on Tuesday

A sense of stability prevailed in the markets today as the Sensex rose 917 points to return to pre-budget levels

Mumbai: Market benchmark Sensex zipped back to around where it was before the Union Budget 2020 was presented on Tuesday bringing in much relief to investors and providing the markets a sense of stability, thanks to hectic buying.

The 30-share BSE Sensex settled 917.07 points, or 2.30%, higher at 40,789.38. It hit an intra-day high of 40,818.94.

Similarly, the broader NSE Nifty soared 271.75 points, or 2.32%, to 11,979.65.

Titan was the biggest gainer in the Sensex pack, rallying 7.97%, followed by ITC, HDFC, Bajaj Finance, and Tata Steel.

On the other hand, Bajaj Auto and HUL were on the losing side.

Analysts said efforts to contain the deadly coronavirus and a significant drop in global crude oil prices in recent days helped improve investor sentiment.

Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul settled with firm gains.

Stock exchanges in Europe too opened on a positive note.

Brent crude oil futures advanced 0.96% to $54.97 per barrel.

On the currency front, the Indian rupee appreciated 16 paise to 71.22 per US dollar (intra-day).

PTI