Indian equity markets staged a sharp recovery from the morning lows today (8th April 2020) with major private banks and auto stocks leading the charge.
The S&P BSE Sensex gained 700 points, or 2.4 percent, to hover around 0.740 levels. The broader Nifty50 reclaimed the psychological level of 9,000 after 228-point, or 2.6 percent, up move. Among individual stocks, IndusInd Bank bounced back nearly 20 percent from the day's low while Axis Bank jumped 8 percent. Besides, Mahindra & Mahindra and HDFC were both up over 6 percent each.
All the Nifty sectoral indices were in the green led by Nifty Private Bank index, up 6 percent.