Market Benchmark Index Sensex jumped 200 points in the opening session on Wednesday as global markets expected a push as new policies are likely to be announced this week as the US Federal Reserve is slated to hold a meeting.
Sensex jumped 247.71 points or +0.77% at 32,362.23 while the broader Nifty 50 jumped 78.55 points or +0.84% at 9,459.45 during the opening session on Tuesday.
The top gainers in the market were HDFC, Bajaj Finance, HDFC Bank, Tech Mahindra, Tata Steel, M&M, PowerGrid, Bharti Airtel, L&T, amomg others while TCS, Asian Paint, Hindustan lever, Titan, Axis Bank, IndusInd Bank were in the red on the Bombay Stock Exchange (BSE).
During the closing session on Tuesday, Sensex jumped 371 points driven by aggressive buying in financial stocks amid hopes of another stimulus package by the government.
After a volatile session, the 30-share BSE gauge settled 371.44 points or 1.17 per cent higher at 32,114.52. It hit an intra-day high of 32,199.91 and a low of 31,661.34.
Similarly, the NSE Nifty advanced 98.60 points, or 1.06 per cent, to close at 9,380.90.
The US Federal Reserve and the European Central Bank are set to detail policies this week.
The European Central Bank will hold its own meeting Thursday, and is likewise expected to mainly fill in details of its stimulus programs, or possibly tweak them, as it keeps an eye on a historic plunge in the economy Worries persist about new surges of coronavirus cases in places like China and South Korea, where they had declined as a result of social distancing, testing and arduous efforts by medical workers.