After falling over 450 points during the day, the 30-share index ended 260.31 points or 0.84 per cent lower at 30,672.59.
There is a post-default curing period of 90 days for the rating to move from default to speculative grade and generally 365 days for default to move to investment grade.
Shares of InterGlobe Aviation, which operates IndiGo, rose as much as 12.84 per cent to Rs 1,029 apiece on the BSE, while on the NSE, it climbed 12.93 to Rs 1,029.85. Similarly, SpiceJet shares rallied 4.88 per cent to Rs Rs 42.95 on the BSE and 4.90 to Rs 42.85 on NSE.
At the interbank foreign exchange, the rupee opened at 75.70, then gained ground to touch 75.67, registering a rise of 13 paise over its previous close.
After rising to an intra-day high of 31,188.79, the 30-share index settled 114.29 points or 0.37 per cent up at 30,932.90. The broader NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25.
The rupee, however, declined 14 paise to 75.80 against the US dollar on Wednesday, as US-China trade tensions and worries over the second wave of coronavirus infection weighed on the investor sentiment.
At the interbank foreign exchange, the rupee opened at 75.60, registering a rise of 6 paise over its previous close.
The 30-share index settled 622.44 points or 2.06 per cent higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11 cent, to end at 9,066.55.
RIL shares, which closed at Rs 883.85 on March 23, has zoomed 59.32 per cent since then to Rs 1,408.15 by Tuesday in the midst of the coronavirus pandemic while the Sensex has risen only 16.67 per cent in the same period — from 25,880.83 on March 23 to 30,196.17 on Tuesday.
According to traders, hopes of a vaccine for COVID-19 enthused global investor sentiment.
The rupee fell 33 paise to close at 75.91 against the US dollar, tracking weak domestic equities and foreign fund outflows. Rising crude oil prices and concerns about the effectiveness of the fiscal stimulus package also weighed on the forex market sentiment.
The heavyweight stock rose by 1.58 per cent to Rs 1,482 on the BSE in the opening session. On the NSE, shares of the company went advanced 1.54 per cent to Rs 1,482.
The local unit opened at 75.85, then lost further ground and fell to 75.89 against the US dollar, down 31 paise over its previous close. It had settled at 75.58 against the US dollar on Friday.
The S&P BSE Sensex crashed 1,068.75 points ( 3.44 per cent) to settle at 30,028.98, while the broader Nifty 50 slipped 313.60 points (3.43 per cent) to end the day at 8,823.25. Both the topliners had opened around 0.3 per cent lower earlier in the day and slipped nearly 3.65 per cent during the intraday trade.
At the interbank foreign exchange, the rupee opened at 75.51, then touched 75.50, registering a rise of 6 paise over its previous close.
At 9:15 am, the S&P BSE Sensex was down 116.09 points (0.37 per cent) at 31,006.80, while the Nifty 50 was at 9,109.75, down 33.00 points (0.36 per cent).
Analysts said the focus would remain on the FM’s announcements over the next few days as the Finance Minister will be sharing further details on other beneficiaries of the stimulus package.
The local unit opened at 75.57, then lost further ground and fell to 75.59 against the US dollar, down 13 paise over its previous close.
The S&P BSE Sensex cracked 885.72 points (2.77 per cent) to settle at 31,122.89, while the Nifty 50 ended the day at 9,142.75, down 240.80 points (2.57 per cent).
According to the latest data available with the Association of Mutual Funds in India (Amfi), a net sum of Rs 731 crore was pumped into gold-linked ETFs in April as compared to an outflow of Rs 195 crore in March.
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Apple iPhone SE (2020) hands-on
Apple iPhone SE (2020) hands-on