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Nifty hold gains as investors pin hope to govt’s fiscal package

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Sensex, Nifty end in the green

Indian equity markets managed to hold decent gains, after rising as much as 5% intraday. Key indices were volatile in opening trade, but traded higher later in the day buoyed by the rise in IT and fast moving consumer goods (FMCG) stocks. The markets rose the most when finance minister Nirmala Sitharaman said on Twitter that the government plans to soon announce a fiscal stimulus package.

The Sensex rose 692.79 points, or 2.67%, to end today’s session at 26,674.03, while the Nifty 50 index settled 190.80 points, or 2.51%, higher at 7,801.05.

Shares of Infosys led gains on Nifty, followed by Adani Ports, Britannia, Bajaj Finance and Maruti Suzuki, while Mahindra & Mahindra, Grasim Industries, IndusInd Bank, Power Grid Corporation and Bharti Infratel were the biggest laggards in today’s session.

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