Sensex gains on RBI liquidity boost for MFs
Japan’s stimulus bolsters global stocks
- Indian equities traded strong as investor sentiment received a boost with the Reserve Bank of India announcing a ₹50,000 crore special liquidity facility for mutual funds facing liquidity pressures. An overall strong trend in global markets also acted as a catalyst.
- The 30-share Sensex gained 415.86 points or 1.33% to close at 31,743.08. Earlier in the day, it gained over 770 points to touch an intraday high of 32,103.70.
- Gains in the benchmark were led by financial sector stocks such as Indusind Bank, Axis Bank, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance. The broader Nifty rose 1.4% to 9,282.30.
In the markets, more than 1,300 stocks gained while 1,090 declined. Global stocks too surged after the Bank of Japan announced more stimulus measures to help counter effects of the pandemic.