The market is expected to see strong gains today after Prime Minister Narendra Modi announced a fiscal stimulus package of Rs 20 lakh crore, aimed at alleviating pain caused by COVID-19.
SGX Nifty is pointing towards a gap up opening as investors in other equity markets remain nervous over resurgence of coronavirus cases. SGX Nifty is trading higher by 219 points with Nifty futures trading at 9,395.
Sectorally, profit-taking was seen in sectors like energy, oil & gas, capital goods, as well as healthcare stocks, while value-buying was seen in telecom, power, metals and IT stocks.
Bulls helped Nifty recoup some of its losses in the last hour of the trade on May 12 but not enough to push the index back in the green. The S&P BSE Sensex recovered more than 500 points from the day’s low while Nifty closed a shade below 9,200.
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