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  • 2018-04-10
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Thursday turned out to be a fabulous day of trade for Indian equity

benchmarks with frontline gauges recapturing their crucial 9,100

(Nifty) and 31,150 (Sensex) levels, tracking a rise in the global

markets on hopes the coronavirus pandemic is nearing a peak and

that governments would roll out more stimulus measures. Key

indices commenced the session with a gap-up opening as traders

took encouragement with a private report stating that a second

stimulus package India is poised to announce in coming days will

be worth around Rs 1 lakh crore ($13 billion) and focus on help for

small and medium businesses weathering the coronavirus

outbreak.

Key indices continued their rally mood to reach at fresh intraday

high points in last leg of trade, taking support from Commerce and

Industry Minister Piyush Goyal assured that the ministry will make

efforts for release of 'urgent and important' export orders which are

stuck for some reasons. He said the ministry is working

aggressively to revitalize exports, and looking for export

opportunities to expand. Investors paid no heed towards UN report

stating that India's GDP growth for the current fiscal is expected to

slow down to 4.8 per cent, warning that the COVID-19 pandemic is

expected to result in significant adverse economic impacts

globally. Investors also awaited the Index of Industrial Production

(IIP) data to be out later in the day.

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