Sensex Rises Over 400 Points, Nifty Reclaims 14,600 Led By Pharma, Banks

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Sensex Rises Over 400 Points, Nifty Reclaims 14,600 Led By Pharma, Banks

The Indian equity benchmarks extended gains in noon deals on the back of buying interest in banking, pharma, information technology and PSU banking shares after the Reserve Bank of India announced measures including provision of term liquidity facility of ₹ 50,000 crore for healthcare and loan moratorium for individual borrowers and small businesses. The Sensex rose as much as 473 points to 48,727 and Nifty 50 index climbed above its important psychological level of 14,600.
As of 1:12 pm, the Sensex was up 472 points at 48,725 and Nifty 50 index advanced 126 points to 14,623.



Reserve Bank of India (RBI) Governor Shaktikanta Das said the central bank has asked lenders to provide fresh moratorium to certain small borrowers, which will be available to individuals and small and medium enterprises that did not avail any restructuring in 2020.

"Small businesses and financial entities at the grassroot level are bearing the biggest brunt of the second wave of infections," Mr Das said, as he announced a slew of other measures to enhance liquidity and boost lending to various needy sectors.

Both indexes had closed at their lowest in more than a week on Tuesday, as domestic coronavirus cases surged past the grim milestone of 20 million.

However, the RBI governor said the second COVID-19 wave was not "insurmountable" and that the future remained "bright".

Nine of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Pharma index's nearly 4 per cent gain. Nifty PSU Bank, Private Bank, Bank, Financial Services and IT indexes also rose between 1-2 per cent.

Source-  https://www.ndtv.com/business/share-market-live-updates-sensex-rises-over-400-points-nifty-reclaims-14-600-led-by-pharma-banks-2428464