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Sensex soars 879 points as India begins 'Unlock 1.0'; Nifty tops 9,800

Sensex soars 879 points as India begins 'Unlock 1.0'; Nifty tops 9,800

Bajaj Finance was the top gainer in the Sensex pack, rising around 11 per cent, followed by Titan, Tata Steel, SBI, M&M, HDFC, IndusInd Bank and Reliance Industries

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Equity benchmark Sensex surged 879 points on Monday, driven by gains in Reliance Industries, HDFC twins and TCS as investor optimism heightened after the government began the process of unlocking the economy.

Positive cues from global markets too buoyed investor sentiment here.

After skyrocketing 1,250 points during the day, the 30-share index settled 879.42 points or 2.57 per cent higher at 33,303.52.

Similarly, NSE Nifty surged 245.85 points or 2.57 per cent to finish at 9,826.15.

Also Read: Coronavirus Lockdown: The economics behind India's Rs 21 lakh crore package

Bajaj Finance was the top gainer in the Sensex pack, rising around 11 per cent, followed by Titan, Tata Steel, SBI, M&M, HDFC, IndusInd Bank and Reliance Industries.

On the other hand, Sun Pharma, Nestle India and UltraTech Cement were among the laggards.

According to Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi, Indian markets started the week on a positive note following upbeat Asian market peers and the sentimental positive news of 'Unlock-1' and hopes of the economy gradually opening up took hold.

"The market further rallied in the afternoon session with much broad-based buying seen in both large and mid-cap stocks tracked by respective indices," he added.