Sensex Zooms 800 Points As Global Markets Recover And Crude Oil Price Slips to 13-Month Low

Mumbai, February 4: Extending gains, the Sensex zoomed over 800 points in the intra-day trade. The rise has been on the back of global gains and a slide in the global crude price. In addition to this, the markets have been able to recover from the Budget 2020 day, when it tanked almost 1000 points. Sensex was up 844 points at 40,717 and Nifty, on the other hand, was at 11,961, up 263 points at 1:45 pm on Tuesday. All eyes will now be on the RBI monetary policy which is due on Thursday.

Reportedly, oil prices fell to the lowest in more than a year on Monday, due to the concern over demand in China after the coronavirus outbreak.  Among the Sensex stocks, HDFC Bank and RIL were both up over 2 percent today. TCS informed the stock exchanges that it has bagged a $1.5 billion contract from a global pharmacy giant over a ten-year period. Further, positive opening of other Asian stocks too buoyed domestic benchmarks. Sensex, Nifty Remain Volatile After Stock Markets Slumped 1000 Points on Budget 2020 Day.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains today. The Chinese stocks on Monday plunged 7 percent amid fears around the deadly coronavirus. Following which, the Chinese state media urged the investors not to panic amid concerns over the spread of coronavirus.  Monday was the first trading day for mainland Chinese markets after the government extended the Lunar New Year closure for financial markets to control the spread of the virus.