Domestic stock markets started the last day of the three-day holiday-truncated week on a positive note amid gains in Asian peers. The S&P BSE Sensex index opened 677.23 points higher at 30,571.19, and the broader NSE Nifty 50 benchmark started the day at 8,973.05, up 224.3 points from the previous close. Analysts say the markets are likely to remain volatile in the short term as investors weigh the emergency measures deployed by policymakers against the deadly COVID-19 pandemic.
Equities in other Asian markets rose on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures. MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.6 per cent higher, tracking overnight gains in the US.
Shares in China, where the novel coronavirus first emerged late last year, rose 0.54 per cent. Australian shares were up 1.52 per cent.
On Wednesday, the S&P 500 index gained 3.41 per cent, helped by hopes the pandemic was nearing its peak. However, US stock futures gave up earlier gains to trade 0.27 per cent lower on Thursday morning.
Japan’s Nikkei stock index bucked the regional trend and fell 0.55 per cent as coronavirus infections in the country rose.
On Wednesday, the S&P BSE Sensex index had ended a volatile session 173.25 points (0.58 per cent) lower at 29,893.96, and the NSE Nifty settled at 8,748.75, down 43.45 points (0.49 per cent) from the previous close.
The markets will remain shut on April 10 for Good Friday. They were also closed on Monday, April 6, for Mahavir Jayanti holiday.
Source By NDTV