Mumbai. Thursday was a great day for the Indian stock market. The market started with an increase and closed with an increase. During the trading, the market had to rise by 1500 points. The Sensex gained 1410.99 points or 4.94 percent to 29,946.77 and the Nifty gained 323.60 points or 3.89 percent to finish at 8,641.45. Today, there was a big role of 1.70 lakh crore package given by the government in raising the market. Also, the boom in banking and auto sector was also beneficial for the market. Please tell that on Wednesday also the market closed with a huge increase. The Sensex was up 1861.75 points at 28,535.78 and the Nifty was up 516.80 points to finish the business at 8,317.85.
Reason for market growth
Finance Minister Nirmala Sitharaman has announced a package of 1.70 lakh crore. He said that it will be our endeavor that the poor living in villages and cities do not sleep hungry. Under this, the poor will be given 10 kg of free grain every month. Financial assistance will also be provided to the farmers. Announcements have also been made for women, elderly and employees. The United States is going to release a relief package of $ 2 trillion (about Rs. 151 lakh crores) to stop the economic decline due to the coronavirus epidemic. The package has been agreed between the White House and the Senate.
Banking sector stocks up 45.07 percent
The banking sector, which closed with a gain on Wednesday, saw a gain of about 45 percent. IndusInd Bank shares rose 47.33 percent during trading. Today the banking sector has played an important role in taking the market up.
Finance Minister Nirmala Sitharaman announced a package of 1.70 lakh crore
The country has a 21-day lockdown to prevent coronavirus infection. During this time, the government has announced a big relief package to ensure that the common people, and especially the poor, do not suffer. Finance Minister Nirmala Sitharaman held a second press conference in three days on Thursday. In it, he said that a package is ready for the workers and poor coming from other states. This package is worth Rs 1.70 lakh crore. It will be our endeavor that the poor living in villages and cities do not sleep hungry. Under this, the poor will be given 10 kg of free grain every month. Financial assistance will also be provided to the farmers. Announcements have also been made for women, elderly and employees.