Finance Minister Nirmala Sitharaman announced a number of measures on Friday to lift market sentiment and boost growth
But weak global backdrop could cap the upside for Indian equities in near term
Indian markets regained momentum in noon trade after early swings in both direction. After rising over 650 points to 37,363 at day’s high, the Sensex fell to 36,492 at day’s low – a swing of nearly 900 points. Later at 12:19 pm, the Sensex was trading 400 points higher while Nifty was firm above 10,900. On Friday, Finance Minister Nirmala Sitharaman announced a raft of measures to boost market sentiment and revive the slowing economy. But a weak global backdrop could cap the upside in the near term for Indian markets, say market experts.
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Here are 10 updates from Indian stock markets:
1) Banking stocks led the gains today with Nifty Bank index rising 1.5%. Among financials, HDFC rose 3.7% and Bajaj Finance 2.5% while ICICI Bank, Yes Bank, HDFC Bank and SBI rose around 2%.
2) The PSU Banking index on NSE rose 2.2% after government announced plan for ₹70,000 crore immediate recapitalisation. Cental Bank of India, Indian Bank and Allahabad Bank rose between 5% and 8%.
Source: Livemint
