Indian stock indices, Sensex and Nifty recovered from day's low to surge 3.5 percent ahead of the press conference announced by FM Nirmala Sitharaman. Sitharaman is expected to announce some measures to boost the economy, which is now also affected by the COVID -19.

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Even as we are readying an economic package to help us through the Corona lockdown (on priority, to be announced soon) I will address the media at 2 pm today, specifically on statutory and regulatory compliance matters, the Finance Minister said.

The announcement of US Federal Reserve measures to support the economy also lifted the market sentiment.

At 1:10 pm, Sensex traded 956 points or 3.7 percent higher at 26,937 while the Nifty gained 275 points or 3.6 percent to 7,885.

Bajaj Finance, Britannia, Adani Ports, Infosys, and HUL were the top gainers on the Nifty50 index, whereas Bharti Infratel, Grasim, ITC, BPCL, and M&M led the losses.

Nifty Midcap index also recovered from day's low and was trading 2.6 percent higher, however, Nifty Smallcap continued to trade in the red, down 1.2 percent.

All sectoral indices, except Nifty Realty, were positive in the afternoon deals. Nifty Pharma and Nifty IT surged the most, up over percent each, which Nifty FMCG rose 4 percent. Nifty Auto was also up 3 percent and Nifty Bank added 2 percent.

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First Published:Mar 24, 2020 9:32 AM IST