Indian share indices rose sharply on Tuesday after Finance Minister Nirmala Sitharaman announced that the government would be providing a fiscal stimulus package, Mint reported. The equity markets rose as much as 5% intra-day, but pared gains to finish between 2% and 3% higher.
The BSE Sensex rose 692.79 points, or 2.7%, to close at 26,674.03, after a bloodbath on Monday. The National Stock Exchange Nifty 50 gained 190.80 points, or 2.5%, to finish at 7,801.05.
Key indices were volatile in opening trade, but traded higher later in the day, buoyed by the rise in information technology and fast moving consumer goods stocks.
The top stocks on the Sensex were Infosys, Bajaj Finance, Hindustan Unilever, Maruti Suzuki and HCL Technologies. The top losers were Mahindra & Mahindra, IndusInd Bank, ITC, Power Grid Corporation and Larsen & Toubro.
The biggest gainers on the Nifty on Tuesday were Infosys, Adani Ports, Britannia, Bajaj Finance and Hindustan Unilever. The biggest losers were Yes Bank, Mahindra & Mahindra, Grasim, IndusInd Bank and Power Grid Corporation.
All other major Asian markets finished in green on Tuesday. Japan’s Nikkei 225 rose by 7.13%, the Taiwan TSEC 50 Index by 4.45%, the Hong Kong Hang Seng by 4.40%, the Australia ASX All Ordinaries by 4.15% and the Shanghai SE Composite Index by 2.37%.
The Indian rupee gained 25 paise against the United States dollar and ended at 75.95. The rupee too had crashed to its lowest-ever level against the dollar on Monday.