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Monday, June 01, 2020

Sensex gains 1,028 pts, ends FY20 31.23% lower

The Sensex rose 1,028.17 points, or 3.62 per cent, to 29,468.49, while the NSE Nifty gained 3.82 per cent, or 317 points, at 8,597.75.

By: ENS Economic Bureau | Mumbai | Published: April 1, 2020 3:22:45 am
stock markets, stock markets slump, BSE Sensex, NSE Nifty, Sensex, Nifty, Business news, Indian Express The rupee, meanwhile, ended on a flat note at 75.60 against the US dollar but logged a massive 9.36 per cent or 646 paise loss during 2019-20, mostly due to weakened sentiment in the wake of Covid-19 outbreak.

Stock markets remained volatile yet again with the benchmark indices rallying on the back of strong global cues on Tuesday, the last trading session of the fiscal 2019-20. The Sensex rose 1,028.17 points, or 3.62 per cent, to 29,468.49, while the NSE Nifty gained 3.82 per cent, or 317 points, at 8,597.75.

Despite Tuesday’s gain, the Sensex lost 31.23 per cent, or 9,204 points, in FY20. Most of the losses happened in March in the wake of the COVID-19 outbreak. It was also a bad financial year for mutual funds with all of them showing huge losses in their net asset values and facing redemption pressure. Global stock markets and US futures moved higher on Tuesday after data showed that manufacturing activity in China rebounded from record lows in March, even though China’s economy remains under huge pressure from the coronavirus.

The rupee, meanwhile, ended on a flat note at 75.60 against the US dollar but logged a massive 9.36 per cent or 646 paise loss during 2019-20, mostly due to weakened sentiment in the wake of Covid-19 outbreak.

Here’s a quick Coronavirus guide from Express Explained to keep you updated: What can cause a COVID-19 patient to relapse after recovery? | COVID-19 lockdown has cleaned up the air, but this may not be good news. Here’s why | Can alternative medicine work against the coronavirus? | A five-minute test for COVID-19 has been readied, India may get it too | How India is building up defence during lockdown | Why only a fraction of those with coronavirus suffer acutely | How do healthcare workers protect themselves from getting infected? | What does it take to set up isolation wards?

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