D-Street is inching towards a photo finish for the week ended April 10. Bulls fuelled a smart rally which pushed the S&P BSE Sensex beyond 31,000 in trade on April 9, the last trading day for the week, while the Nifty50 reclaimed 9,000 levels.
Sectorally, the rally was seen in auto, telecom, consumer discretionary, finance, healthcare, and consumer durable space.
Strong global cues, and expectations of further stimulus measures from the Indian govt. as well as central bankers across the world are boosting sentiment, suggest experts.
“Market is trading on a firm note in today’s session up by 3.4% amid gains in global, and Asian peers on hopes that the COVID-19 pandemic is nearing a peak in major hotspots countries and that governments would roll out more stimulus measures,” Sundar Sanmukhani, Head of Fundamental Research Desk at Choice Broking said.
“The government is likely to unveil a second stimulus package in the coming days to focus on the help of MSME. Sectorally, all indices were trading in green with auto and pharma index leasing the rally,” he said.
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