Domestic Stock Markets surged 1 per cent amid positive global cues; Sensex ends 437 pts higher, Nifty above 13,600

The Sensex and Nifty today surged one per cent amid positive global cues. The BSE Sensex closed above 46,400 mark and the Nifty settled above 13,600 level.

The Sensex surged 437.49 points or 0.95 per cent to finish at 46,444.18 and the NSE Nifty 50 index climbed 134.80 points or one per cent to settle at 13,601.10. Nifty Bank rose 257.35 points or 0.87 per cent to end at 29,883.30.

The broader market at BSE gained outperforming the Sensex as the BSE Mid-Cap index rose 2.4 per cent while the BSE Small-Cap index appreciated 2.65 per cent.

Buyers outpaced sellers. On the BSE, 2,298 shares rose and 646 shares fell. In the Nifty, 42 stocks advanced and eight stocks declined. The top five gainers on Nifty 50 block were Wipro (up 5.70 per cent), Cipla (up 3.76 per cent), Tata Steel (up 3.40 per cent), Tata Motors (up 2.76 per cent) and Hindustan Unilever (up 2.68 per cent). The top five losers on the index were Hero MotoCorp (down 0.95 per cent), Divi's Laboratories (down 0.70 per cent), Titan (down 0.52 per cent), NTPC (down 0.15 per cent) and Power Grid (down 0.11 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 7,80,18,199 with 17,17,124 deaths. India reported 2,89,240 active cases of COVID-19 infection and 1,46,444 deaths while 96,63,382 patients have been discharged.

Jammu & Kashmir DDC Elections

The People's Alliance for Gupkar Declaration (PAGD), a conglomeration of seven parties, on Tuesday took a significant lead in the first-ever District Development Council (DDC) elections in Jammu & Kashmir even as the alliance's main opponent, the BJP, emerged as the single largest party.

European Union (UK) and the UK

France reopened its border to England on Wednesday, requiring passengers arriving at the border to have a negative Coronavirus test result. It comes after France imposed a ban on people and freight coming from the UK amid concerns over a fast-spreading COVID-19 mutation first identified in southeast England. On Tuesday, EU chief Brexit negotiator Michel Barnier said the bloc was making a "final push" to strike a Brexit trade deal with Britain but disagreements over fishing rights remain. There have been positive reports about the talks, claiming a deal could be reached on Wednesday.

US COVID-19 Relief Package Bill

Congressional leaders had attached $900 billion in pandemic aid to a $1.4 trillion measure to fund the government through September 30, 2020.

On the data front, a final reading showed third-quarter GDP grew 33.4 per cent on an annualised basis. That was revised slightly up from the 33.1 per cent pace reported last month. The economy contracted at a 31.4 per cent rate in the April-June quarter.