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		<img align="" alt="Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-07/01/full/1467377893-4994.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (" width="620">
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		On the NSE, the benchmark Nifty ended at 9,380.90, up 99 points or 1 per cent.</div></div>

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (

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	Sharp rally in financial stocks due to better-than-expected March quarter results (Q4FY20) of IndusInd Bank and Axis Bank-Max Financial deal, helped benchmark indices end over 1 per cent higher on Tuesday.&nbsp;</div>
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	Private-sector lender Axis Bank said it would acquire an additional 29 per cent stake in Max Life Insurance, raising its total stake in the private life insurer to 30 per cent after the completion of the deal. The lender is also slated to release its March quarter numbers later in the day. <a href="http:// https://www.business-standard.com/article/companies/axis-bank-to-acquire-29-in-max-life-taking-its-total-stake-to-30-120042800400_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	The S&P BSE Sensex gained over 371 points or 1 per cent to settle at 32,114.52, with IndusInd Bank (up nearly 17 per cent) being the top gainer. HDFC, ICICI Bank, and Axis Bank were among the major contributors to the index&#39;s gains. On the flip side, FMCG major Hindustan Unilever (HUL), and Sun Pharma were the top drags.&nbsp;</div>
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	On the NSE, the benchmark Nifty ended at 9,380.90, up 99 points or 1 per cent. Volatility index India VIX declined 7.6 per cent to&nbsp;35.14 levels.&nbsp;<br />
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	<strong>Buzzing stocks</strong><br />
	<br />
	Among individual stocks, shares of IndusInd Bank surged 18.05 per cent intra-day, to hit a high of Rs 480.9, on the BSE after <a href="https://www.business-standard.com/article/markets/indusind-bank-hits-10-upper-circuit-on-operationally-strong-q4-earnings-120042800252_1.html" target="_blank">brokerages maintained &#39;buy&#39; call</a> on the stock due to its better-than-expected operationally strong March quarter performance. The stock eventually ended at Rs&nbsp;468.90, up 15 per cent. On the NSE, it ended at Rs&nbsp;476.95, up 17 per cent.&nbsp;<br />
	<br />
	Shares of Max Financial Services and Axis Bank traded higher after the private sector lender said it would acquire an additional 29 per cent stake in Max Life Insurance. Max Financial Services, Max Life&#39;s parent company, will hold the remaining 70 per cent in the joint venture. At close,&nbsp;Max Financial Services stood at Rs&nbsp;475.80, up over 5 per cent while Axis Bank ended over 6.6 per cent higher at Rs&nbsp;455.55 apiece on the BSE. <a href="https://www.business-standard.com/article/markets/max-financial-axis-bank-gain-on-max-life-deal-120042800596_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<div>
		Shares of Just Dial rallied over 11 per cent to Rs 388 on the BSE&nbsp;after the company announced that it will consider share buyback proposal on Thursday. <strong><a href="https://www.business-standard.com/article/markets/just-dial-up-10-as-board-mulls-share-buyback-proposal-120042800256_1.html" target="_blank">READ MORE</a>&nbsp; &nbsp;</strong><br />
		<br />
		On the sectoral front, Nifty Private Bank index gained the most - up 3.56 per cent to<strong>&nbsp;</strong>11,243.55 levels while Nifty Pharma fell the most - down over 2 per cent to&nbsp;9,386.20 levels.&nbsp;<br />
		<br />
		In the broader market, the<strong>&nbsp;</strong>S&P BSE MidCap index gained 0.8 per cent to 11,723 while the S&P BSE SmallCap index ended at&nbsp;10,862.54, up 0.77 per cent.&nbsp;<br />
		<br />
		<strong>Global Markets</strong></div>
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	<div>
		Oil prices plunged for a second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to recover even after countries ease restrictions to combat the coronavirus pandemic.</div>
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	<div>
		Brent crude fell 83 cents, or 4.1 per cent, to $19.16 a barrel at the time of writing of this report, following a 6.8 per cent slide on Monday.</div>
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	<div>
		US West Texas Intermediate (WTI) crude was down $2.57, or 20 per cent, at $10.21 a barrel. The contract plunged 25 per cent on Monday.</div>
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	<div>
		In stock markets, European shares hovered near two-week highs as a slate of strong earnings reports from companies, including Novartis and UBS, outweighed a slump in oil prices and shares of Wirecard.</div>
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	<div>
		In Asia, China&rsquo;s blue-chip and start-up shares inched up after fresh regulatory reform cheered the market, but the main Shanghai benchmark slipped as big banks lined up their earnings following a tumultuous first quarter. Around the region, MSCI&rsquo;s Asia ex-Japan stock index was firmer by 0.4 per cent, while Japan&rsquo;s Nikkei index closed down 0.1 per cent.</div>
	<br />
	<div>
		<strong><em>(With inputs from Reuters)</em></strong></div>
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MARKET WRAP: Sensex up 371 pts as financials surge; IndusInd Bank zooms 17%

Business Standard

MARKET WRAP: Sensex up 371 pts as financials surge; IndusInd Bank zooms 17% | News on Markets - Business Standard

&gt;&gt; Oil prices plunged yet again on Tuesday as lack of storage space to deal with a coronavirus-induced collapse in demand haunted investors. In early trade today, Brent crude futures were down over 2 per cent while the US WTI eased 9 per cent.<br />
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&gt;&gt; On Monday, US WTI crude futures fell 24.6 per cent, while Brent crude slid 7 per cent &nbsp;
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SGX Nifty indicates positive start for indices

&gt;&gt; At 8:30 am, the index was at 9,359.50 level, up<span style="white-space:pre"> </span>64.35 points or<span style="white-space:pre"> 0</span>.69 per cent<br />
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NEWS ALERT | Govt may announce a Rs 40,000 crore corpus for MSME funding: CNBC TV18

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	-- The corpus may help provide for Rs 3 lakh crore credit line</div>
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	<br />
	-- Fresh credit line for MSMEs likely to be for 6 months</div>
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	<br />
	-- MSMEs may be able to fund 20% of their term loans from banks, NBFCs</div>

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US stocks advance as some states reopen for business

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MARKET WRAP: Sensex up 371 pts as financials surge; IndusInd Bank zooms 17%

All that happened in the markets today

Oil prices extend decline

SGX Nifty indicates positive start for indices

NEWS ALERT | Govt may announce a Rs 40,000 crore corpus for MSME funding: CNBC TV18

Asian stocks trade mixed

US stocks advance as some states reopen for business