Equity markets close higher for second consecutive day

Indian equity markets reacted positively post Tuesday's announcement by Prime Minister Narendra Modi by hitting biggest one-day gain in 11 years on the first day of 21-day lockdown. The benchmark indices-Sensex and Nifty gained as much as seven per cent intraday on Wednesday. This is the second consecutive day when the markets closed higher.

BSE Sensex ended with gains of seven per cent (or 1,861 points), to close at 28,536 and NSE Nifty closed higher by 6.62 per cent at 8,317.38. The gains registered by indices are the biggest intraday gains since 2009.

The indices helped by gains in Reliance Industries Ltd closed nearly 15 per cent intraday. The stock reacted positively to the media reports of Facebook eyeing 10 per cent stake in the company. Other gainers were Kotak Mahindra Bank (12.65 per cent), Maruti (12.23 per cent), HDFC Bank-11.77 per cent and Titan (8.24 per cent) on the indices.

The broader indices i.e. BSE Mid-cap and Small-cap closed higher by 3.53 per cent and 2.84 per cent, respectively. Top mid-cap gainers on BSE were shadow banking firms such as Shriram Transport Finance, Max Financial Services, Muthoot Finance etc, which gained as high as 17 per cent intraday.