20:37 GMT07 May 2021
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    New Delhi (Sputnik): India's benchmark stock index Sensex collapsed from highs of over 42,000 in February to just 26,000 when the COVID-19-led lockdown was announced in the country in March. The index has since rebounded by almost 50 percent from its March lows.

    As the Bombay Stock Exchange's benchmark 30-share index, Sensex, gained 432 points to trade at 39,545, Indian bourses were up in opening trading on Friday led by gains in financial stocks.

    The previous close for Sensex on Thursday was 39,113.

    Similarly, the wider 50-share index of the National Stock Exchange, Nifty, gained 116 points to trade at 11,675. Its previous close stood at 11,559 points.

    The public sector bank index was up 4 percent and led the rally followed by stocks like Reliance Industries GMR Infra.

    A stock market participant told Sputnik that banking and financial sector stocks strengthened in early trading, as a moratorium on loan payments is set to expire on 31 August.

    To grant relief from payment of loans to consumers during the COVID-19 pandemic, the Reserve Bank of India in March announced a moratorium on loan repayment, slated to stay in force until 31 August.

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