Sensex Ends 700 Points Up at 26,674, Nifty at 7,801 Amid Positive Global Cues

Mumbai, March 24: Sensex started the day on a positive note but soon slipped into the negative, but the markets later rebounded and ended 700 points up in the green. The BSE Sensex ended at 26,674, up 700 points and Nifty was at 7,801. The rupee opened higher at 76.07/$ vs Monday's close of 76.22 against the US dollar. 

Sentiments improved in the global markets after the Federal Reserve rolled out a series of sweeping new programs on Monday meant to shore up large and small businesses and keep markets functioning. The aim behind the measures was also to curb the impact of COVID-19 on the American economy. Fed Reserve pledged to do whatever it took to stabilise the financial system. Bloodbath at Indian Markets, Sensex Nosedives Around 4,000 Points to Close at 25,981, Nifty Falls to 7,631 Amid Coronavirus Pandemic.

Investors in Asia were encouraged enough by the Fed's measures to lift Japan's Nikkei by 4.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.2 per cent. South Korea and Australia also recouped a little of their recent losses. Wall Street continued to tumble. The Dow Jones Industrial Average dropped 3.04 per cent, while the S&P 500 lost 2.93 per cent overnight. The Nasdaq Composite dropped 0.27 per cent.

In India, the number of coronavirus cases has increased tremendously over the last few days and as a result of which, state governments have imposed lockdown till March 31 to contain the spread of the deadly virus. The death toll count has touched 9 on Monday with fresh cases being reported- one each from Kolkata and Himachal Pradesh.

(The above story first appeared on LatestLY on Mar 24, 2020 04:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).