Markets recover after Sitharaman’s announcements, Sensex up 692 points, Nifty closes above 7800 points

Mumbai: Stock markets responded positively to the Finance Minister’s measures to ease burdens on the taxpayers with both the benchmark indices end the day in the green.

While the S&P BSE Sensex was up 692.79 points or 2.67% at 26674.03, the NSE Nifty-50 was up 190.80 points or 2.51% at 7801.05.

About 927 shares have advanced, 1310 shares declined, and 145 shares are unchanged. Infosys, NIIT, Escorts, Adani Ports, HDFCLife, Britannia Industries, Bajaj Finance and HUL were among major gainers on the Nifty, while losers were Yes Bank, M&M, Grasim, IndusInd Bank and  Power Grid Corp.

The finance Minister Nirmala Sitharaman during her press conference had said that the government and RBI are keeping an eye the situation in the stock market, SEBI has also issued several guidelines recently on this. The government is getting several inputs in the issue and will announce appropriate measures on this issue.

She also announced that the government is preparing an Economic Package and will be announced soon.