Sensex up 637 points on Rs 20-tr stimulus

MUMBAI: Benchmark indices were off day's highs but still managed to close around 2 per cent higher on Wednesday ahead of the Finance Minister Nirmala Sitharaman's press conference at 4 pm today on the details of the Rs 20 trillion economic package announced by the Prime Minister Narendra Modi last evening.

The S&P BSE Sensex rallied 637 points or 2 per cent to settle at 32,009. of 30 constituents of the index, 26 ended in the green and rest four in the red. Axis Bank (up 7 per cent) ended as the biggest gainer on the index while Nestle India (down over 5 per cent) emerged as the top loser.

NSE's Nifty advanced 187 points or 2 per cent to 9,383.55 levels.

Sectorally, banking stocks rallied the most. The Nifty PSU Bank index jumped over 6 per cent to 1,238.05 while Nifty Bank climbed over 4 per cent to 19,635.

Pharma stocks, on the other hand, ended in the red. Nifty Pharma slipped over 1 per cent to 9,148.

Auto major Maruti Suzuki on Wednesday reported 27.7 per cent year-on-year fall in consolidated profit at Rs 1,322.3 crore for the March quarter of FY20 (Q4FY20) while revenue dipped 15.2 per cent to Rs 18,207.7 crore. The company had posted revenue of Rs 21,473.1 crore and profit of Rs 1,830.8 crore in the corresponding quarter of last year. The stock ended at nearly 2 percent higher at Rs 5,035 apiece on the BSE. (Agencies) 

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