Markets rise on stimulus hopes; Sensex up 1,628 pts, Nifty ends above 8,700

To avert a global recession, most central banks have announced measures worth trillion of dollars.

Investors had something to cheer going into the weekend, with the domestic benchmark indices rallying about 6 per cent, underpinned by a slew of support measures announced by policymakers around the world to cushion the economic shock of the coronavirus pandemic.

Markets across Asia and Europe gained as Brent crude prices rose above $30 a barrel, while the US dollar weakened. The Sensex closed at 29,916, up 1,628 points, or 5.8 per cent, while the Nifty rallied 482 points, or 5.83 per cent, to end at 8,745 — the biggest single-day gains for both the indices since May 2009. The