Sensex rises nearly 2500 points; Nifty jumps over 750 points
Tuesday proved to be very beneficial for the stock market amid the lockdown. In the market that has been in decline for a long time, due to Coronavirus infection, there was a glow in the market today. The BSE Sensex, based on 30 stocks of the BSE, closed at 30,067 with a gain of 2,476 points. The National Stock Exchange’s 50-share sensitive index Nifty also gained 752 points to close at 9,221.
Bounce in crude oil
Oil prices rose again on Tuesday on hopes of an agreement between Saudi Arabia and non-OPEC country Russia for major cuts in crude oil production. In the international market, there was a jump of more than three percent in crude oil, due to which the Indian futures market was also trading strongly in oil futures deals. The domestic futures market was trading at Rs 2080 per barrel, with a rise of Rs 32, or 1.56 per cent, from the previous session in the April contract of crude oil on Multi Commodity Exchange ie MCX, while the previous price opened at Rs 2060 and sprang up to Rs 2089 per barrel.
Shine in gold price also
In the international market, the increase of gold price continued for the fifth consecutive day on Tuesday. The yellow metal is witnessing a rising trend of investors towards gold, a safe investment destination due to the threat of a deep recession on the global economy due to the outbreak of coronavirus. On Tuesday, gold on the international futures market Comex rose to $ 1,742.20 an ounce, which is the highest level since October 18, when gold rose by $ 1,749.10 an ounce on Comex.
