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Indian Markets Zoom in Opening Trading; Sensex, Nifty at All-Time High

© AP Photo / Rafiq MaqboolA security guard wearing a mask as a precaution against the new coronavirus stands at the Bombay Stock Exchange (BSE) building in Mumbai, in Mumbai, India, Monday, March 16, 2020
A security guard wearing a mask as a precaution against the new coronavirus stands at the Bombay Stock Exchange (BSE) building in Mumbai, in Mumbai, India, Monday, March 16, 2020 - Sputnik International
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India’s benchmark stock index Sensex has recovered more than 80 percent from its COVID-low of 25,981, witnessed on 23 March 2020, two days before a nationwide lockdown began to curb the spread of the coronavirus.

Indian markets were up in opening trading on Thursday on the back of buying at the lower levels, after Wednesday's fall.

Even though a broad-based buying was witnessed, the key indices were powered by the real estate stocks, which were up on the back of relief provided by the Indian state of Maharashtra to the realty companies.

The Bombay Stock Exchange's 30- share benchmark index Sensex was trading at all-time high of 48,524 as of press time, after gaining 350 points in the opening trade.

Similarly, the broader Nifty50 index of the National Stock Exchange was also trading at an all-time high of 14,220, after gaining 97 points in the opening trade on Thursday. 

The Maharashtra state government on Wednesday decided to cut the government levies on real estate by 50 percent till 31 December 2021.

The real estate stocks that gained in the trade are Indiabulls Housing Finance, DLF, Shobha Realty and Prestige Group, among others.

 

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