At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 939.43 points or 3.29% at 29,475.21. The Nifty 50 index was up 267.05 points or 3.21% at 8,563.85.
The broader market advanced. The S&P BSE Mid-Cap index was up 2.84% while the S&P BSE Small-Cap index was up 3.71%.
The market breadth was strong. On the BSE, 1387 shares rose and 504 shares fell. A total of 131 shares were unchanged. In Nifty 50 index, 34 stocks advanced while 16 stocks declined.
Trading was volatile as traders roll over positions in the F&O segment from the near month March series to April series. The March 2020 F&O contracts expire today, 26 March 2020.
Buzzing Index:
The Nifty Auto index surged 2.1% to 5,039.95, extending its winning run to third consecutive sessions. The auto index has gained 9% in three trading sessions.
Bajaj Auto (up 7.17%), Ashok Leyland (up 4.93%), Hero MotoCorp (up 3.12%), Eicher Motors (up 2.09%) and Tata Motors (up 0.57%) advanced.
Stocks in Spotlight:
IndusInd Bank surged 37.38% to Rs 413.80. The stock slumped 62.54% in the past eight trading sessions to Rs 301.2 on 25 March 2020, form its recent closing high of Rs 804 on 13 March 2020.
Bandhan Bank spurted 29.74% to Rs 200.65. The stock slumped 33.44% in the past three trading sessions to Rs 154.65 on 25 March 2020, form its recent closing high of Rs 232.35 on 20 March 2020.
InterGlobe Aviation on Wednesday said that the restrictions on the operation of international and domestic flights is likely to continue till 14 April 2020. The National lockdown announced by the Government of India with effect from 12:00 am on 25 March 2020 until 14 April 2020, it is likely that these restrictions on the operation of the company's international and domestic flights will continue until 14 April 2020. Shares of InterGlobe Aviation were trading 2.12% lower at Rs 990.
Cipla rose 1.88% to Rs 383.80 after the company said it received US drug regulator's final approval for generic version of AstraZeneca Pharmaceutical's Nexium. Nexium is a proton pump inhibitor indicated for treatment of gastroesophageal reflux disease (GERD), reducing risk of NSAID-associated gastric ulcer, eradication of helicobacter pylori (H. pylori) bacteria to reduce the risk of duodenal ulcer recurrence and for pathological hypersecretory conditions, including Zollinger-Ellison syndrome.
India Cements soared 8.71% to Rs 104.20 after Mumbai-based billionaire Radhakishan Damani purchased 16 lakh shares for Rs 94.97 each via bulk deal on BSE yesterday, 25 March 2020.
Global Markets:
Overseas, most Asian markets were trading lower on Thursday as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus.
In US, stocks on Wednesday finished well off their highs and the Nasdaq turned negative in the final minutes of trade, as the passage of a $2 trillion economic rescue package appeared to hit a snag.
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