Wall Street rebounded as investors pinned their hopes on policy easing by major central banks

Published On: Tuesday, March 10, 2020 | By: Team KnowMyStock

Wall Street rebounded on 10th March (Tuesday) as investors pinned their hopes on policy easing by major central banks after global markets plummeted in the previous session on fears of a coronavirus-driven recession. Traders now expect the Federal Reserve to cut interest rates for a second time this month, with President Donald Trump adding pressure to bring U.S. rates down to the level of "competitor nations". After strong gains at the open, all three indexes briefly traded in the red, as investors weighed the effectiveness of additional monetary stimulus to combat the virus outbreak. The indexes quickly reversed course to trade higher again as a report said the Trump administration had discussed a 90-day payroll tax suspension. The utilities and consumer staples commonly considered bond proxies were among the biggest decliners, after showing resilience in Monday's rout. Rate-sensitive financial stocks firmed 1.2 percent as US Treasury yields bounced off record lows.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

Follow Us On: