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Market bounces sharply; Sensex up 1%, Nifty reclaims 8,500

Market bounces sharply; Sensex up 1%, Nifty reclaims 8,500

Market bounces sharply; Sensex up 1%, Nifty reclaims 8,500
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By CNBC-TV18 Mar 19, 2020 2:13 PM IST (Updated)

Indian benchmark indices, Sensex and Nifty recouped all the intraday losses and turned in to green with Sensex up over 2,000 points from the lows.

Indian benchmark indices, Sensex and Nifty recouped all the intraday losses and turned in to green with Sensex up over 2,000 points from the lows.

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At 2:05 pm, the Sensex rallied 276.37 points or 0.96 percent at 29,145.88 and the Nifty traded 48.80 points or 0.58 percent higher at 8,517.60. Nifty Bank gained 8-11 percent from lows to turn positive.
The gains were followed by Dow futures trading nearly 1,000 points higher from lows.
In a temporary relief to listed companies, market regulator Sebi relaxed some listing disclosure obligations due to COVID-19. Companies can submit Q4 and FY20 results by June 30, Sebi said in a release.
Bajaj Auto, Bharti Airtel, ITC, Hero MotoCorp  and PowerGrid Corporation of India led gains among Nifty constituents while Bharti Infratel, ZEEL, Maruti Suzuki, ONGC and BPCL led the decline remained the top losers.
Asian stocks struggled to find their footing in volatile trade on Thursday, as the latest promise of stimulus from the European Central Bank propped up sentiment while the world struggles to contain the coronavirus pandemic.
Meanwhile, the Indian rupee traded lower at 74.91 per dollar as compared to the opening of 74.95 and previous close of 74.26.
 
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