Indian stock market on Wednesday, April 8, quickly reversed initial losses after opening in red, with the BSE Sensex gaining over 700 points.
This is the second day of the market rally, after the domes indices recorded the biggest single-day gain on April 7.
At 10.55 am, Sensex was trading at 30,772.23, higher by 705.02, or 2.34 per cent from the previous close of 30,067.21 even as investors remain wary about an extension of the nationwide lockdown beyond April 14.
It had opened nearly 300 points lower at 29,701.92 and so far has touched an intra-day low of 29,602.94. So far it has touched an intra-day high of 31,227.97.
The Nifty50 on the National Stock Exchange was trading at 8,978.90, higher by 186.70 points or 2.12 per cent from its previous close.
The gains were supported by buying activity across sectors led by healthcare, banking and auto indices.
IndusInd Bank, HDFC top gainers on Sensex
Among the Sensex stocks, IndusInd Bank, HDFC, Maruti Suzuki, Mahindra & Mahindra and NTPC gained the most, while TCS, ITC, Titan Company and Reliance Industries were the only losers.
Meanwhile, India reported over 5,000 confirmed coronavirus cases on Wednesday morning. However, the government said it had no plans to extend the 21-day lockdown that began last week and will probably end on April 14.