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Market Update: The SENSEX Index increased 0.76%
The BSE SENSEX gained 299 points or 0.6% to 50,937 in early trade on Wednesday, amid a steady decline in daily COVID-19 cases in India. The country on Tuesday saw its lowest daily rise of cases in more than a month. Meantime, the health ministrys data today showed that the total tally of infections has crossed 27 million. Sentiment was also supported by data showing that the benchmark 10-year yield hit a near three-week low on Tuesday, on hopes that the US Fed will continue to remain ultra-accommodative until the economy has further recovered. On the GDP front, local media reports said that the Indian economy is likely to have grown 0.6%-2.1% in Q4 FY2020/21. In business news, WhatsApp has filed a legal complaint in New Delhi against the Indian government seeking to block regulations coming into force today, according to Reuters. Bajaj Finserv Ltd and Titan Company Ltd jumped 2.2% and 1.9%, each. [/s2If]
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