The US market ended higher overnight, led by gains in technology stocks, after US Federal Reserve chairman indicated that the central bank may slow pace of rate hikes. Nasdaq Composite jumped 4.4%
Stock market wrap: Reliance alone contributed 231 points to the 30-share benchmark. Maruti, M&M and NTPC were the other major gainers. The Metal and IT sector witnessed selling pressure.
CLOSING BELL: ITC, the biggest cigarette maker, and the second largest fast moving consumer goods (FMCG) company in India, regained the market capitalisation of Rs 4 trillion on Friday
(Reuters) - The S&P 500 and Dow hit record highs moments after the open on Monday, as news of the first successful late stage COVID-19 vaccine trials stirred hopes of the economy emerging from a year of pandemic-driven crisis.
The Dow Jones Industrial Average rose 152.27 points, or 0.57%, at the open to 26,833.14, and the S&P 500 opened higher by 16.68 points, or 0.51%, at 3,268.52.
With further extension of the nationwide lockdown, the RBI is considering a proposal for extending the moratorium on bank loans by another three months
News agency Reuters quoted senior officials saying that the government is poised to announce a second stimulus package in coming days which will be worth around Rs 1 trillion
Investors will also react to Markit Services PMI data for March which was released yesterday, and, according to the monthly survey, India's services sector contracted in March to 49.3
The government has already deferred deadlines for filing tax returns, extended a tax amnesty program and promised more measures to support the economy amid the coronavirus pandemic