Across-the-board healthy buying lifted market benchmarks Sensex and Nifty over a percent higher each in intraday trade on October 1.
Sensex jumped over 600 points while Nifty crossed 11,400 on the upside. At 12:50 hours, BSE Sensex was 626 points up at 38,694 while Nifty was 171 points up at 11,418.
Here are 5 factors that fuelled the rally in the market:
Unlock 5.0: The Ministry of Home Affairs (MHA), on September 30, announced the Unlock 5.0 guidelines, further relaxing curbs on activities outside of containment zones.
Cinemas, theatres, and multiplexes will be allowed to operate with up to 50 percent of their seating capacity, for which separate SOPs will be issued by the Ministry of Information and Broadcasting.
Business to Business (B2B) exhibitions will now be permitted to open, for which SOPs will be issued by the Department of Commerce.
Global shares tried to extend gains on Thursday on renewed hopes for fresh US stimulus measures, but mounting uncertainty ahead of America’s presidential election and technical problems in Japan kept gains in check, reported Reuters.
Bajaj Auto sold a total of 441,306 vehicles (commercial vehicles and two-wheelers) in September 2020, a 10 percent increase year-on-year (YoY) numbers as compared to the 402,035 units sold in September 2019, the company informed the exchanges on October 1.
Maruti's total sales went up 30.8 percent at 1.60 lakh units against 1.22 lakh units (YoY). Total sales grew 29 percent at 1.60 lakh units against 1.24 lakh units (MoM). Domestic sales went up 32.2 percent at 1.52 lakh units against 1.15 lakh units (YoY). Exports grew 9 percent at 7,834 units against 7,188 units (YoY). Domestic passenger vehicle sales jumped 33.9 percent at 1.47 lakh units against 1.10 lakh units.
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