Sensex surges 1,411 points as Centre unveils Rs 1.7 lakh crore package; Nifty ends above 8,600

NEW DELHI: Equity indices finished in green for the third consecutive session on Thursday with the benchmark BSE sensex surging over 1,400 points as finance minister Nirmala Sitharaman announced a comprehensive economic package to cushion the impact of the coronavirus outbreak in the country.
The 30-share BSE index rose 1,411 points or 4.94 per cent to close at 29,947; while the broader NSE Nifty settled 324 points or 3.89 per cent high at 8,641.
Top gainers in the sensex pack include IndusInd Bank, L&T, Bajaj Finance, Bharti Airtel, Bajaj Auto and HDFC with their shares rising as much as 46.08 per cent.
On NSE, sub-indices Nifty Bank, Private Bank and Realty outperformed by rising as much as 8.27 per cent.
Two days after government ordered a 21-day nationwide lockdown to contain the spread of the virus outbreak, finance minister Nirmala Sitharaman announced relief for the poor that included direct cash transfers and food security measures.
The Rs 1.70 lakh crore economic package will be implemented with immediate effect.
Sitharaman also said a Rs 50 lakh insurance cover will be given to healthcare workers who are at the forefront of dealing with the pandemic.
The BSE gauge had shot up 1,862 points or 6.98 per cent to settle at 28,536 on Wednesday, and the NSE barometer spurted 517 points or 6.62 per cent to end at 8,318 – the biggest single-day gain for the indices.
In a boost for the global market sentiment, the US Senate and White House reached an agreement on a $2 trillion stimulus package for the American economy.
The deal aims to buttress the teetering economy by giving roughly $2 trillion to health facilities, businesses and ordinary Americans buckling under the strain of the Covid-19.
The number of deaths around the world linked to the coronavirus has crossed over 21,000. In India, more than 600 coronavirus cases have been reported so far.
(With agency inputs)