Sensex rallies over 1,100 pts; TCS soars 7 pc

Equity benchmark Sensex rallied over 1,100 points in opening trade on Friday tracking strong gains in index heavyweights HDFC twins, Reliance Industries, ICICI Bank and TCS amid positive cues from global markets. Investor sentiment is also buoyed in anticipation of more measures from Reserve Bank of India to revive ecomy. RBI Goverr Shaktikanta Das is scheduled to address media at 10 am amidst steep fall in rupee and continuing volatility in or segments of financial market.

Sensex rallies over 1,100 pts

After hitting a high of 31,711.70, 30-share index was trading 1,036.74 points or 3.39 percent higher at 31,639.35. Similarly, NSE Nifty was quoting 291 points, or 3.24 percent, up at 9,283.80. TCS was top gainer in Sensex pack, surging up to 7 percent. country's largest software exporter reported a marginal dip in March quarter net at Rs 8,049 crore on Thursday.

company reported a 5.1 percent increase in revenue to Rs 39,946 crore for reporting quarter, while same for full year FY20 was up 7.1 percent to Rs 1.57 lakh crore. Or gainers included Axis Bank, ICICI Bank, HDFC, PowerGrid and IndusInd Bank. In previous session, BSE barometer ended 222.80 points or 0.73 percent higher at 30,602.61 and Nifty climbed 67.50 points, or 0.76 percent, to finish at 8,992.80.

Foreign portfolio investors (FPIs) were net sellers in capital market on Thursday, as y offloaded equity shares worth Rs 2,920.36 crore, according to provisional exchange data. According to traders, market sentiment turned positive led by rally in global equities. Bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with significant gains in early deals.

Stock exchanges on Wall Street ended significantly on a strong te overnight trade. On domestic front, hopes of more measures to boost domestic ecomy by central bank chief also lifted benchmark indices. Meanwhile, Brent crude futures, global oil benchmark, rose 1.94 percent to USD 28.36 per barrel.

death toll due to Covid-19 rose to 437, while number of cases in country climbed to 13,387. Global tally of infections has crossed 21 lakh, with over 1.44 lakh deaths.